Emerson Electric earnings selloff good buying opportunity, says Citi

Citi lowered the firm’s price target on Emerson Electric to $109 from $112 and keeps a Buy rating on the shares. Despite the stock coming under pressure on a “modest” fiscal Q4 earnings “miss” versus consensus, the results are reflective of good operational execution that, coupled with still broadly positive underlying demand momentum, should be supportive of Emerson’s fiscal 2023 outlook, the analyst tells investors in a research note. The firm sees a potential pullback in the stock as a good buying opportunity for longer-term investors.