BofA analyst Andrew Obin lowered the firm’s price target on Rockwell Automation to $335 from $375 and keeps a Neutral rating on the shares, citing peer de-rating for a lower multiple. Rockwell reported Q3 revenue and earnings that missed the firm’s estimates and the Street’s and while the firm says that the Q3 issues “seem transitory,” they add that they “still matter” given the current valuation.
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