Today's Enterprise Value $30 billion ( 90% of revenue, $15 share )
Buy at Enterprise Value of 75% of revenue - high risk
Buy at Book of 1.0 - implies a $5 share - more reasonable risk
Background:
Backlog margins getting hammered - examine closely 2Q report for project cancellation insight.
Will Management squander the $7 billion of cash on hand ?
Will ABB be able to (finally) capitalize on its high tech T&D ?
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