Rockwell Automation initiated with a Hold at Jefferies

Jefferies initiated coverage of Rockwell Automation with a Hold rating and $335 price target. Rockwell Automation is a pure-play industrial automation supplier that should be well positioned to benefit from secular growth in the adoption of smart manufacturing, the analyst tells investors in a research note. The firm believes high expectations are already baked into forecasts and the stock’s valuation. It also sees a potential slowdown in the company’s 2025 growth.