ABB - ABB tapped for Goldman Sachs European conviction list

[[ABB]] is added to Goldman Sachs' European conviction list, as the firm notes the stock trades for ~21x estimated 2022 EPS, a discount to other industrial stocks despite faster than expected growth."ABB is not being credited for its self-help or organic opportunities," writes Goldman's Daniela Costa, believing the company can boost profit margins by up to 5% by turning around underperforming divisions and selling businesses with below average growth.ABB has announced plans to spin off or sell three businesses - turbocharging, power conversion, and mechanical power transmission - and expects to launch an IPO of its electric vehicle charging business, all events that can unlock value in ABB shares, Costa says.In recent days, ABB also was upgraded to Buy from Hold at Kepler Cheuvreux and to Hold from Sell at Deutsche Bank.ABB's likely growth does not justify the stock's high multiple, Wolf Report writes in an analysis posted recently on

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ABB tapped for Goldman Sachs European conviction list