As previously reported, Wells Fargo analyst Joseph O’Dea upgraded Rockwell Automation to Equal Weight from Underweight with a price target of $317, up from $290. The firm cites 2024 earnings growth potential and relative valuation. Wells sees a path to 12% EPS growth in 2024, and notes shares are trading at an 18% premium to its group, below the 27% year-to-date average and versus the 14% to 34% 1-year range.
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Read More on ROK:
- Rockwell Automation upgraded to Equal Weight from Underweight at Wells Fargo
- Rockwell Automation price target lowered to $335 from $375 at BofA
- Rockwell Automation CEO: Underlying demand remains strong
- Rockwell Automation narrows FY23 EPS view to $11.70 – $12.10, consensus $12.01
- Rockwell Automation reports Q3 EPS $3.01 , consensus 3.17