UPDATE: Goldman Sachs Upgrades Rockwell Automation to Buy

Goldman Sachs Upgrades Rockwell Automation (NYSE: ROK) to Buy on encouraging ECB liquidity actions in December and recent GLI and PMI readings that can increase risk-taking in 1H12.

Goldman Sachs notes, however, that "key macro questions remain, including the form of structural change in Europe and transmission of financial stress to the real economy; EM inflation and potential for a pro-growth policy shift; and gov't debt refinancing and US elections."

ROK closed at $74.86 per share on Tuesday.

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