Market Overview

UPDATE: Langenberg & Company Downgrades Emerson Electric Company

Related EMR
Benzinga's Top Downgrades
Goldman's Pair Trade: Illinois Tool Works Upgraded, Emerson Electric Downgraded
Lanny's Recent Purchase - EMR (X3) (Seeking Alpha)

Langenberg & Company downgrades Emerson Electric Company (NYSE: EMR) from Buy to Hold and reiterated the $60.00 price target.

Langenberg & Company noted, "Emerson shares are up 16% since their November '12 low and now trade within 3 points of our $60 target price, translating into a 6% FCF on our fiscal '13 estimate of $3.60/share and 100% cash conversion. Catalysts are now limited. Our fiscal '13 estimate of $3.60 is up $0.21 for the full year - $0.12 already came home as anticipated in F1Q. Deal activity should be muted with a $400-500M placeholder for the fiscal year and Embedded Power (about 1/4) of Network Power on the block for divestiture. We could be leaving a few points on the table from an accelerated recovery in China or HVAC but have cheaper ways to play those themes."

Emerson Electric Company closed at $56.91 on Tuesday.

Latest Ratings for EMR

Sep 2015Societe GeneraleMaintainsBuy
Aug 2015Vertical ResearchUpgradesHoldBuy
Aug 2015Argus ResearchDowngradesBuyHold

View More Analyst Ratings for EMR
View the Latest Analyst Ratings

Posted-In: Langenberg & CompanyAnalyst Color Downgrades Analyst Ratings


Related Articles (EMR)

Get Benzinga's Newsletters