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.

(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.