ABB : Postview du T1 : un bon démarrage d’année, mais le titre est cher
>OC relevé de 22.0 CHF à 24.0 CHF. Sous-performance maintenue - Notre OC, basé sur les DCF, passe de 22.0 CHF à 24.0 CHF (soit 27.0 USD) suite à nos révisions de prévisions. Nous attendons désormais une croissance organique de 6.2% en 2021e et 5.2% en 2022e, avec des marges opérationnelles de 14.0% et 14.9% resp. Nous restons prudents sur le titre car l’exposition d’ABB à de nombreux marchés en déroute (O&G, power gen fossile, croisières,...) pèse encore, et puisque l...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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