ABB (Asea Brown Boveri) ADR Message Board

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Strategies & Market Trends : ABB (Asea Brown Boveri) ADR

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To: tech101 who wrote (40)	8/14/2008 2:03:26 PM
From: tech101	of 106

Target Price $37.91 ABB Ltd Updated Report - 1Q 08 Results Demand outlook remains strong across the segments and geographies. ADR BUY Target Price $37.91 Current Price: $24.40 Fundamental research indicates a 55% upside in the ADR over the next 6-12 months. We have calculated the target price based on fundamental factors, using the weighted average of target prices obtained through DCF and comparative valuation methodologies. Report summary ABB reported strong 21 08 results which were above our expectations. The company continued to experience strong growth in orders across most of its business across all geographies during 21 08. ABB had a strong order book of US$29.1 bn as of june 2008, which will create strong revenue visibility, going forward. We continue to believe that the company's increasing exposure to the emerging markets will act as a catalyst for its future growth. Currently impact for US investors The company reports in US dollars. Earnings forecast are therefore also expressed in US dollars. Although the company has costs as well as revenues in other currencies, we assume the net risk is minimized through effective hedging strategies. As a result, the impact of currency movements on the price of the ADR is assumed to be neutral. Where specific currency resks are identified, there will be highlighted in the report. More (total 6 pages): iirgroup.com

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