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10 months ago
BRIEF-ABB CEO says can reach share price of 35 Sfr
October 4, 2016 / 8:31 AM / 10 months ago

BRIEF-ABB CEO says can reach share price of 35 Sfr

1 Min Read

Oct 4 (Reuters) - ABB Ltd

* CFO (not CEO) says cash priority is organic growth, then dividend, then acquisitions and buyback

* CEO says parts of power grids market growing at 3 pct per year, sees other parts growing double digits -news conference

* CEO says power grids will emphasize higher margin consultancy services and software in future

* CEO says share price of 35 Sfr is a level that we will reach in appropriate time

* CEO says white collar productivity target has no headcount reduction target

* CEO says takes shareholder ideas into consideration, but doesn't mean have to follow every recommendation

* CEO declines to say what interest there was from potential buyers for power grids business Further company coverage: (Reporting By Zurich newsroom)

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