Berenberg Starts Emerson (EMR) at Sell

October 3, 2016 6:19 AM EDT
Get Alerts EMR Hot Sheet
Price: $58.43 +2.11%

Rating Summary:
    3 Buy, 20 Hold, 6 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 23 | Down: 34 | New: 34
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Berenberg initiates coverage on Emerson (NYSE: EMR) with a Sell rating and a price target of $41.00.

Analyst Simon Toennessen commented, "Following significant portfolio changes in recent months, we expect material downgrades to consensus (~20% for FY 2017 EPS) as the street moves to pro-forma numbers. In addition, a combination of: a) further cyclical pressure particularly from the oil and gas sector; b) lack of future transformative M&A; c) a more lacklustre dividend outlook; and d) FY 2017 valuation levels that sit more than 50% above the historical average (on pro-forma numbers) does not make us optimistic about Emerson shares."

For an analyst ratings summary and ratings history on Emerson click here. For more ratings news on Emerson click here.

Shares of Emerson closed at $54.51 yesterday.

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