Credit Suisse has raised the target price on ABB to Rs 1,350 from a previous Rs 1,150 per share while maintaining an ‘outperform’ rating on the stock. The global brokerage has raised FY22 and FY23 EPS as well by 4 percent and 6 percent on the stock on the back of higher margins.
According to Credit Suisse, ABB is a play on automation theme, it is increasing manufacturing investments and there is a cyclical improvement as well. Credit Suisse believes that ABB can also benefit from the government’s PLI scheme.
CNBC-TV18’s Nimesh Shah has more details.
To watch other videos in this series, click on the Standout Brokerage Report tab below.
(Edited by : Ajay Vaishnav)
First Published: Dec 8, 2020 1:32 PM IST
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!