Stephens analyst Tommy Moll lowered the firm’s price target on Rockwell Automation to $260 from $350 and keeps an Equal Weight rating on the shares following the company’s conference call. The firm expects the shares to be range bound in the near-term pending progress towards de-stocking, the analyst tells investors. Stephens does note the upcoming Investor Day may pose as a catalyst for the company, depending on the long term goals / strategy announced by the company.
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