Emerson Electric earnings selloff a buying opportunity, says JPMorgan

JPMorgan recommends using the post-earnings selloff in shares of Emerson Electric as a buying opportunity. In a sector with “plenty of mixed reports and worsening outlooks, with future earnings risk,” Emerson’s report “stands out as worthy of defending as not as bad as the stock reaction,” the analyst tells investors in a research note. Despite the mixed Q4 outlook, the company is absorbing discrete headwinds and still delivering organic profit growth better than estimates, says the firm. It keeps an Overweight rating on the name with a $117 price target.