RBC Capital analyst Deane Dray raised the firm’s price target on Emerson Electric to $110 from $102 and keeps an Outperform rating on the shares. The analyst cites the company’s presentation at the annual analyst meeting yesterday outlining its roadmap as the new automation pure-play. Dray adds that based on how Emerson is expected to exit FY23 on a net-cash basis, investors will be "riveted" by the company’s capital deployment announcements on organic growth, M&A, buybacks, and the 66-years of dividend hikes.
Published first on TheFly
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