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ABB: Oddo confirms rating after additional charges

(CercleFinance.com) - ABB this morning announced additional charges amounting to approximately 150 million dollars in Q4 at the operational EBITA level, with an additional 75 million dollars in pre-tax charges.

These charges are related to the reduction of the group's exposure to EPC (Engineering, Procurement, Construction).

Following this announcement, the broker's analysts maintain their Neutral rating, with a target price of 24.50 Swiss francs.

Oddo believes that this announcement will only marginally change the group's outlook. Analysts believe that the expected rebound in 2018 is already largely priced in.

Oddo states in its daily research report that it estimates that the last quarter should already reflect restructuring charges of at least 160 million dollars.

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