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UPDATE: Oppenheimer Downgrades Emerson to Perform on Lack of Catalysts to Growth

Related EMR
UPDATE: Emerson Electric Posts Better-Than-Expected FQ4 Earnings
Earnings Scheduled For November 4, 2014

Oppenheimer reduced its rating on Emerson (NYSE: EMR) from Outperform to Perform and lowered its price target from $57 to $53.

Oppenheimer commented, "We are downgrading shares of EMR to Perform from Outperform, based on lack of high conviction catalysts to drive multiple expansion, and nearterm risk associated with exposure to capital spending. Initial guidance outlook for msd-hsd EPS growth appears a potentially more opportunistic backdrop for expectations, but does include a combined 17c headwind from pension and overlapping stock compensation plans (partially offset by ~6c favorable from lower restructuring spend, and material restructuring benefits)."

Emerson closed at $48.36 on Monday.

Latest Ratings for EMR

DateFirmActionFromTo
Nov 2014RBC CapitalInitiates Coverage onSector Perform
Nov 2014BarclaysMaintainsEqual-weight
Nov 2014NomuraMaintainsBuy

View More Analyst Ratings for EMR
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