Baird lowered the firm’s price target on Emerson Electric to $88 from $99 and keeps a Neutral rating on the shares. The firm said Q was modestly below expectations on lower-than-expected sales and margins in both Intelligent Devices and Control Systems & Software. Initial F2024 guidance bands consensus when adjusting for National Instruments inclusion, but F1Q adjusted EPS guidance was below consensus.
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- Emerson Electric sees FY24 adjusted EPS $5.15-$5.35, consensus $5.25
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