ABB: UBS cuts target price
(CercleFinance.com) - UBS believes that a cautious approach to growth in 2023 does not prevent the Swiss engineering group ABB from achieving its targets.
The analyst therefore confirms a buy rating on the stock, although has reduced its target price to 35 euros (from 37 euros).
ABB has reported Q2 basic EPS that was almost halved (-47%) to 0.20 dollar, despite a 0.5-point improvement in its operating EBITA margin to 15.5%, on revenues that are down 3% to 7.25 billion dollars (+6% on a comparable basis).
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