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ABBN Abb News Story

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ABB shares drop 4% as revenue growth target remains unchanged

** Shares in ABB ABBN.S fall around 4% to their lowest since early September after the Swiss engineering group kept its new mid-term revenue growth target unchanged compared to its earlier one

 ** ABB said it expects to increase its annual sales by 5-7% on a comparable basis over the next few years, keeping the same target as previously

** "There were voices that would have expected an increase in the annual organic growth target to 6–8%," Zuercher Kantonalbank analysts say

** The target is in line with ZKB's expectations but some investors may have expected something more, they add

** "Given peers recently lifting their growth targets, ABB's unchanged revenue growth target might be a slight disappointment to the market," Vontobel's analysts say

(Reporting by Paolo Laudani in Gdansk)

((Paolo.laudani@thomsonreuters.com))

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