ABB Disappoints Investors by Leaving Growth Target Unchanged

ABB Ltd. kept its revenue growth target unchanged, disappointing investors who had expected a more ambitious goal as an artificial intelligence boom drives demand for the company’s power-grid products.

The Swiss manufacturer still sees comparable revenue growing 5% to 7%, it said Tuesday ahead of an investor day in the US. The company raised its operating earnings margin target, but didn’t provide a specific time frame for the new goals.