Power and automation technology provider ABB Ltd. has emerged as the dark horse in the equipment and technology space, as per Industrial Info Resources – a leading provider of global market intelligence.

While equipment and technology providers are grappling with low commodity prices and economic slowdown in China, ABB has managed to clinch a few of the top 10 valued projects in multiple industries.

The Industrial Info Resources report further reveals that ABB is engaged in some capacity in projects totaling $43 billion. Over 90% of these high value projects primarily belong to three major industries, namely, Oil & Gas Production, Power, and Metals & Minerals. The company boasts some heavyweight clients like Statoil ASA , TOTAL S.A. , CPC Corporation Taiwan and Tokyo Gas Company Limited,  to name a few.

In fact, ABB is one of the best managed industrial infrastructure, power and automation companies in the world, with bright long-term prospects. We also believe that the challenges faced by the company might be temporary and things will look up in the near future. We particularly believe that the company’s strategic restructuring will combat broader challenges and drive organic growth while minimizing risks.

The company’s ‘Next Level Strategy’ for the period 2015–2020, which focuses on three primary areas – profitable growth, relentless execution and business-led collaboration – has produced material results. Over the period 2015–2020, ABB aims to increase operational earnings per share by 10–15% compound annual growth rate and deliver attractive returns on investments. With concerted efforts like shake-up of internal structure, adoption of a lean business structure and white-collar cost program, ABB is expected to counter many of the imminent challenges.

With bright long-term prospects and steady growth premise, we believe it will be prudent to hold ABB in your portfolio, which presently carries Zacks Rank #3 (Hold). Another better-ranked stock is SPX FLOW, Inc. (FLOW Quick QuoteFLOW - Free Report) with a Zacks Rank #1 (Strong Buy).  

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