FWIW UBS Fast Take out today for ABB
UBS: Neutral 12m PT $3.95
Headline
AGM: FY25e guidance reaffirmed, 1Q25e net adds +22k, Red Energy agreement signed, Buddy 3.9k subs.
Our Take
Good start to FY25e, but if we strip out Buddy, Resi ABB branded adds slowed to +12.4k (4Q24 13.5k, 1Q24 26k). 1Q typically stronger net adds qtr. Pleasingly, ABB signed reseller agreement with Red Energy (mid-Sep start), but likely smaller vs Origin
DISC: Held in RL & SM