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Find out why Credit Suisse maintains 'outperform' but raises target price on ABB

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.

By Nimesh Shah  Dec 8, 2020 1:33:05 PM IST (Updated)

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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.