ABB Looks On Track to Meet Our FY Expectations, With a Couple of Caveats
Our key takeaways from ABB's first-half 2018 results are as follows: 1) The company looks on track to meet our forecasts, including acquisitions, but meeting our underlying organic growth assumptions depends on remaining 2018 deliveries in the division order books; 2) organic revenue for the power grids division is tracking below our full-year expectations but could still meet our forecasts, given the higher order growth relative to revenue; 3) similarly, for industrial automation, order book gr...
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