Report
Jeffrey Vonk
EUR 147.86 For Business Accounts Only

We are increasing ABB’s fair value estimate to $22; shares fairly valued.

We are increasing our fair value estimate to $22 per share from $20 for the ADR and to CHF 21 per share from CHF 20 for the Vienna-listed shares as we adjust for the time value of money and marginally increase our profitability assumptions for 2016 following ABB’s second-quarter results. We maintain our wide moat rating.
ABB closed out its second quarter with revenue down 5% year on year on a reported basis and an order decline of 8% in the quarter. The appreciation of the U.S. dollar versus the...
Underlying
ABB Ltd.

ABB specializes in power and automation technologies. Co. provides a broad range of products, systems, solutions and services that are designed to boost industrial productivity, increase power grid reliability, and enhance energy efficiency. Co.'s automation businesses serve a full range of industries with process optimization, control, measurement and protection applications. Co.'s power businesses focus on power transmission, distribution and power-plant automation, and support electric, gas and water utilities, as well as industrial and commercial customers.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Jeffrey Vonk

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