Citi Downgrades ABB to Neutral, 6.4% Return

Citi Research cut ABB Ltd rating from Buy to Neutral, citing stock trading near its 12‑month target of SFr76.
Share price stood at SFr71.10, down 1%, implying a 6.4% expected price return and 1.5% dividend yield for a total 8% return.
Citi forecasts 2026 sales $36.35bn, net income $5.97bn, EPS $3.29, EV/EBITDA 21.5x, PE 27.5x, margins rising to 21% by 2028.
Risks include heightened competition, uncertain acquisition returns and project execution, while a stronger H1‑2026 recovery could boost margins above estimates.