ABB Reports Lacklustre 2Q
Wide-moat ABB's full-year results are trending in line with our full-year expectations on an underlying basis, but favourable currency movements puts reported revenue growth slightly ahead. We plan to make changes to our forecasts but not material enough to adjust our USD 25.00 and CHF 25.40 fair value estimates for the ADR and local shares, respectively. Shares look attractively valued but we expect some near-term investor hesitation on buying the shares given the ongoing restructuring, and sea...
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