The broadly-defined industrial sector has weakened going into 2012, due at least in part to increasingly challenging comps and negative view of the global economy in the year ahead. Although ABB (NYSE:ABB) does not often get its due credit for the quality of its operations, and there are some legitimate areas of potential concern, this stock looks just too cheap heading into an uncertain 2012.
Low Growth but Improving Orders
Recent performance at ABB has not been so hot, with just 4% organic growth. Power hasn't been bad and ABB has held its own with
Siemens (NYSE:
SI),
Alstom and
Schneider. Automation, especially process automation, has been a bit more problematic. Given that companies like Siemens,
Honeywell
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