While maintaining its 'neutral' opinion on ABB, Oddo BHF has raised its price target from 36 to 40 Swiss francs, incorporating its latest assumptions on the cost of capital and slightly raising its estimates for 2024.

'After the disappointment linked to Siemens' comments last week, we feel that ABB's publication should be reassuring', says the analyst, who anticipates a good first quarter with a book-to-bill of 1.1 times and 5.2% like-for-like sales growth.

According to Oddo BHF, 'ABB should be one of the beneficiaries of the electrification and energy efficiency themes, and its pricing power is a significant asset', but it recognizes that its outlook is less ambitious than Schneider Electric's.

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