Emerson Electric price target raised to $120 from $106 at RBC Capital

RBC Capital analyst Deane Dray raised the firm’s price target on Emerson Electric to $120 from $106 and keeps an Outperform rating on the shares. The company reported a “strong” Q1 earnings beat amid relatively low expectations into the print and “impressive” 10% organic growth, the analyst tells investors in a research note. RBC also cites the management dismissing the thesis that a Process downturn necessarily follows a Discrete downcycle, since there has been no overcapacity this time.