Market Overview

UPDATE: JP Morgan Upgrades Rockwell Automation to Overweight on Macro Reacceleration

Share:
Related ROK
Rockwell Automation Q3 Earnings Top Views
Earnings Scheduled For July 29, 2015

JP Morgan raised its rating on Rockwell Automation (NYSE: ROK) from Neutral to Overweight and increased its price target from $75 to $91.

JP Morgan commented, "We are upgrading ROK to OW on our view of a "catch-up/pent up demand" related acceleration by the middle of next year, driving FY14 EPS growth to among best in class and which, following an expected final cut to Street estimates, may drive a short upward revision cycle. We acknowledge the Street remains Bullish, but after putting up the worst stock performance in the group YTD, we are not sure that matters anymore. The stock is now at parity on our recently reduced number, even cheaper on FCF/pension-adjusted earnings, attractive enough to buy the re-acceleration."

Rockwell Automation closed at $74.87 on Thursday.

Latest Ratings for ROK

DateFirmActionFromTo
May 2015JP MorganMaintainsUnderweight
Apr 2015Stifel NicolausDowngradesBuyHold
Mar 2015BarclaysMaintainsOverweight

View More Analyst Ratings for ROK
View the Latest Analyst Ratings

Posted-In: JP MorganAnalyst Color Upgrades Pre-Market Outlook Analyst Ratings

 

Related Articles (ROK)

View Comments and Join the Discussion!

Get Benzinga's Newsletters