ABB : Après un T3 mixte, un T4 plus faible en perspective. Toutefois une bonne gestion des coûts et ‘nettoyage’ en cours
>OC relevé de 20.0 CHF à 21.0 CHF. Alléger maintenu - Notre OC passe à 21.0 CHF (23.0 $) suite à nos révisions (il est basé sur les DCF). Nous restons toutefois en Alléger car la nature cyclique des métiers d’ABB et son exposition à de nombreux marchés en déroute (O&G, auto, croisières,...) pourraient peser longuement. Le T4 devrait être plus faible que le T3. Le titre est toujours cher (consensus à 12 mois : 24.6x en VE/EBIT et 17.5x en VE/EBITDA), intégrant largemen...ABB specializes in power and automation technologies. Co. provides a broad range of products, systems, solutions and services that are designed to boost industrial productivity, increase power grid reliability, and enhance energy efficiency. Co.'s automation businesses serve a full range of industries with process optimization, control, measurement and protection applications. Co.'s power businesses focus on power transmission, distribution and power-plant automation, and support electric, gas and water utilities, as well as industrial and commercial customers.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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