(News Bulletin 247) – Oddo BHF maintains its neutral rating on ABB shares, with an unchanged price target of CHF 32.6.
ABB reported this morning Q2 revenue of $8,163m, up 17% on a comparable basis vs. 16% expected by consensus, an operational EBITA margin of 17.5% ($1,425m) vs. 16.8% expected ($1,368m) and order intake of $8,667m, reports the analyst.
In this context, for Q3 2023 alone, the group expects ‘low double digit’ organic revenue growth.
“He anticipates a slight increase in operating EBITA margin compared to Q3 2022 (16.6%). For 2023, the group confirms that it is aiming for growth in its turnover of more than 10% and now expects an operating EBITA margin of more than 16%’, indicates Oddo BHF.
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