HSBC last night upgraded Emerson Electric to Buy from Hold with a price target of $100, up from $79. The company is now a “completely transformed automation pure-play” with a presence across discrete/process/hybrid and industrial software, the analyst tells investors in a research note. The firm says Emerson ‘s higher-growth automation business and “decent” software exposure should to re-rate the shares.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on EMR:
- 3 Dividend Aristocrat Stocks Beating Their Average Sector Yield
- Emerson Electric upgraded to Buy from Hold at HSBC
- Emerson Electric CFO Frank Dellaquila to retire, Mike Baughman to succeed
- Emerson Electric reports Q2 adjusted EPS 87c, consensus 97c
- Emerson Reports Second Quarter 2023 Results; Updates 2023 Outlook