ABB India's Long-Term Ordering Prospects Look Strong -- Market Talk

Dow Jones11-06

0827 GMT - ABB India's long-term ordering outlook appears strong, Nomura analysts say in a report, pointing to rising demand in its drives business led by sustainability initiatives and increased inquiries for large cycle orders from core sectors. The company's structural growth remains resilient, with a focus on productivity-enhancing products aligned with digitalization and electrification trends. However, Nomura cuts its 2025-2026 sales estimates for ABB India by 8% to reflect a slower execution pace. It lowers its target price for the stock to INR7,570.00 from INR8,260.00 with an unchanged neutral rating. Shares are 0.4% higher at INR7,152.45. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

November 06, 2024 03:27 ET (08:27 GMT)

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