UPDATE: Langenberg & Company Downgrades Rockwell Automation to Hold, Reiterates $85 PT
In a report published Wednesday, Langenberg & Company downgraded its rating on Rockwell Automation (NYSE: ROK) from Buy to Hold, and reiterated its $85.00 price target.
Langenberg & Company noted, “downgrade to Hold from Buy. Target is $85 while stock is trading above $86. We may be leaving some money on the table (the shares have approached $100) with a 2H13 China industrial recovery in the offing – but it is about risk-adjusted return.”
Rockwell Automation closed on Monday at $83.99.
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