ABB: Oddo BHF still a seller, but raises target price
(CercleFinance.com) - Oddo BHF maintains its "reduce" rating on the ABB share, although has raised its corresponding target price from 14 Swiss francs to 17 Swiss francs, after its new CEO, Björn Rosengren, analysed the engineering group's prospects, positioning and strategy.
The broker says that it has confirmed its basic orientations and medium-term targets, seeing many strengths at ABB - both in terms of products, technologies and positioning with customers.
The presentation suggested a new momentum with a committed captain in charge, although it did not really include a new direction, and it is very early to judge whether these promises have been fulfilled, especially given the very tough quarters that lie ahead, the analyst says.
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