ABB: Berenberg cuts target price
(CercleFinance.com) - Berenberg remains a seller on the ABB share and has cut its corresponding target price from 17.
50 Swiss francs to 17 Swiss francs, pointing to "unlikely" value generation before 2021.
In a note to clients, the German broker wrote that it has reduced its 2019 earnings estimates for the Swiss engineering by 8%, due to higher corporate costs, and lower growth and margin assumptions.
Meanwhile, it has increased its 2020 EPS estimates by 10%, due to higher cost-savings expectations.
However, Berenberg said that it prefers more attractive risk/reward stocks, such as Siemens, on which it has a buy rating.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
50 Swiss francs to 17 Swiss francs, pointing to "unlikely" value generation before 2021.
In a note to clients, the German broker wrote that it has reduced its 2019 earnings estimates for the Swiss engineering by 8%, due to higher corporate costs, and lower growth and margin assumptions.
Meanwhile, it has increased its 2020 EPS estimates by 10%, due to higher cost-savings expectations.
However, Berenberg said that it prefers more attractive risk/reward stocks, such as Siemens, on which it has a buy rating.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.