UPDATE: Credit Suisse Reiterates Outperform Rating, Raises PT on Emerson Electric Co.
In a report published Wednesday, Credit Suisse reiterated its Outperform rating on Emerson Electric Co. (NYSE: EMR), and raised its price target from $55.00 to $53.00.
Credit Suisse noted, “Following Q4 earnings, we raise our TP for EMR to $55 from $53; our EPS ests. barely change. There appears to be substantial investor skepticism around the attainability of the FY13 guide, but we think that it is fairly achievable, particularly at the op margin level (+10-20bps). The imminent risk of a large deal appears low, and we may be at a trough on earnings revision momentum.”
Emerson Electric Co. closed on Tuesday at $51.46.
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