BofA lowered the firm’s price target on Rockwell Automation to $280 from $335 and keeps a Neutral rating on the shares. After having attended Rockwell’s 2023 investor day on November 8, the firm’s key takeaways include that the company expects growth to accelerate materially in 2025/26, but that near-term visibility remains pressured and that Artificial intelligence is being integrated into Rockwell’s operations and into its software and hardware offerings to automate basic, repetitive tasks. The firm, which adds that reinvestment, particularly in Logix, will likely be a structural element of Software & Control margins going forward, applies a lower multiple to its calendar year 2025 estimate to reflect peer de-rating.
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