UPDATE: Morgan Stanley Downgrades Rockwell Automation to Underweight on Lack of EPS Upside in 2013

Morgan Stanley downgraded Rockwell Automation, Inc. ROK from Neutral to Underweight and raised the price target from $81.00 to $84.00. Morgan Stanley commented, "We see little opportunity for upward EPS revisions in near term given weak CapEx outlook nor multiple expansion (latter stage of cycle typically sees ROK at discount) and so expect the stock to underperform the peer group. Downgrade to UW given 3% downside to our upwardly revised $84 PT." Rockwell Automation closed at $86.93 on Monday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorPre-Market OutlookAnalyst RatingsMorgan Stanley
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!