Electrification Megatrends Boost ABB's Prospects; Raising Our Fair Value Estimate to CHF 60

ABB enjoys a number-one or number-two market position in two-thirds of its product segments, largely thanks to centuries of deep domain expertise in supplying mission-critical equipment with a high cost of failure. ABB’s large installed base of long-dated equipment provides the foundation for recurring service revenue, contributing approximately 20% of revenue.