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.
Latest Ratings for ROK
|Sep 2014||Stifel Nicolaus||Initiates Coverage on||Buy|
|Sep 2014||Buckingham Research||Initiates Coverage on||Neutral|
|Apr 2014||JP Morgan||Maintains||Underweight|
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.