Wells Fargo analyst Joseph O’Dea raised the firm’s price target on Rockwell Automation (ROK) to $337 from $315 and keeps an Overweight rating on the shares following quarterly results. Highlights include sequential order improvement and B2B greater than 1 for the 1st time in 7 quarters; confidence that destock near the end with signs of orders matching end market demand; and solid margin performance vs expectations in Q1 and progress on cost out.
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