Emerson Electric price target raised to $133 from $130 at Wells Fargo

Wells Fargo analyst Joseph O’Dea raised the firm’s price target on Emerson Electric to $133 from $130 and keeps an Overweight rating on the shares. Strong operational execution coupled with improving supply chain drove solid Process/ Hybrid performance, the firm says. Wells also notes that discrete remains challenged in both legacy and NATI businesses, but appears to be at a bottom with orders set to improve toward year-end.