The automation and power technologies company received $70 million of orders for projects with the Saudi Electricity Co., which were booked in the first quarter, ABB said on Thursday."In our view ABB's risk/reward profile remains attractive as the shares trade on a PE 12x 2013e (15% below mid-cycle levels) despite having a strong balance sheet," Bank of America Merrill Lynch analysts wrote in a report Thursday. "Transmission and Distribution demand looks solid and there are signs that the power transformer pricing is leveling off or even improving. We also think Chinese demand can recover in H2 which would significantly boost ABB's profits." Rated "B (Buy)" by TheStreet Ratings: The company's fourth-quarter gross profit margin was basically the same as it was the previous year. ABB has weak liquidity. Its Quick Ratio is 1, which demonstrates a lack of ability to meet its short-term cash needs. In the fourth quarter, stockholders' net worth increased 5.99% from the prior year. TheStreet Ratings' price target is $23.20. -- Written by Alexandra Zendrian
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