Baird analyst Richard Eastman raised the firm’s price target on Rockwell Automation to $292 from $285 and keeps an Outperform rating on the shares. The analyst said Q1 results were Goldilocks-like, with the company evading supply constraints to beat its guidance while again building backlog, holding cancellations steady and capturing Q/Q order growth on broader demand for industrial automation despite fading PMIs.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on ROK:
- Rockwell Automation price target raised to $260 from $250 at Mizuho
- Rockwell Automation price target raised to $250 from $220 at Barclays
- Rockwell Automation sees FY23 EPS $10.70-$11.50, consensus $10.56
- Rockwell Automation reports Q1 EPS $1.98B, consensus $1.88
- Citi opens ‘positive 90-day catalyst watch’ on Rockwell Automation