Emerson Electric named as a Top Pick at Morgan Stanley

Morgan Stanley analyst Joshua Pokrzywinski has named Emerson Electric (EMR) as a Top Pick, replacing the analyst’s prior Top Pick Eaton (ETN). Emerson has emerged as "one of the few idiosyncractic stories in Multis" and the firm believes the catalyst path is positive, the analyst tells investors. Feedback from the firm’s upgrade of shares last week was "mostly positive," with the main risk seen being Emerson potentially overpaying for National Instruments (NATI), which the firm believes has a "low probability." Morgan Stanley has an Overweight rating and $96 price target on Emerson shares.