Nomura has maintained its neutral call on ABB, setting a target price of ₹8,260 per share, suggesting a potential upside from the current market price of ₹7,330. Despite a 5% year-over-year increase in revenue for Q3 CY24, the company’s execution performance fell short, coming in 11% below estimates. However, ABB delivered strong EBITDA margins that exceeded expectations.
Additionally, ABB reported order inflows of ₹3,340 crore, marking an 11% growth year-over-year. While revenue growth has been moderate, Nomura noted that robust order inflows and EBITDA margins reflect underlying strength, albeit tempered by execution challenges.
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