Wells Fargo analyst Joseph O’Dea lowered the firm’s price target on Emerson Electric to $100 from $105 and keeps an Overweight rating on the shares. Emerson is currently trading at 16-times 2024 adjusted EPS midpoint, the firm notes. Wells’ EEMI group is at 17.9-times. A 10% discount looks overly punitive for a high-margin company growing MSD organic and with secular growth tailwinds.
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