ABB ADRs could surge, analyst tells Barron's
NEW YORK, May 18 (Reuters) - ADRs in Swiss engineering group ABB (ABB.N) (ABBN.VX) could trade up to $40 in 6 to 12 months and $50 by the end of 2009, up from $32.69 on Friday, Sterne Agee analyst Nick Heymann says, according to Barron's.
Heymann describes the company as "the best pure play on global industrial infrastructure" with all its businesses having "exceptional" long-term growth potential.
The publication, in its issue dated May 19, also quoted ABB's interim CEO Michel Demare as saying the company is in "the sweet spot of energy efficiency and of climate change."
Barron's also said that the shares could get a jolt upwards if the company filled the CEO slot on a more permanent basis promptly. (Reporting by Martin Howell, editing by Gerald E. McCormick)
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