Emerson Electric upgraded to Overweight from Neutral at JPMorgan

JPMorgan analyst Stephen Tusa upgraded Emerson Electric to Overweight from Neutral with a price target of $107, up from $83. The analyst sees an “attractive GARP setup” in the shares as the company nears its “final round of mostly dilutive portfolio moves.” The underlying quality of Emerson’s core value driving franchises is underappreciated, the analyst tells investors in a research note. After a “decade long rolling reset,” visibility around positive earnings revisions is now as good as its been since the 2003-2008 super cycle, contends JPMorgan.