Langenberg & Company Upgrades Rockwell Automation (ROK) to Hold; Raising Numbers

April 18, 2011 10:29 AM EDT
Get Alerts ROK Hot Sheet
Price: $140.56 +0.40%

Rating Summary:
    6 Buy, 21 Hold, 3 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Langenberg & Company upgraded Rockwell Automation (NYSE: ROK) from Sell to Hold. PT increased from $80 to $95 (Long-Term/3-Yr from $95 to $120)

Langenberg analyst says, "We got off too early (1/26/11) and are using the recent pull back to upgrade to Hold. The early read from Ametek and others have led us to boost our F2011-2012 estimates and, in turn, our price targets. Though we are not recommending the stock we really can’t see anything that would knock it down. F2Q remains at $1.12. Our F2011 estimate is now $4.60 from $4.50 and F2012 is now $5.60 from $5.20."

For more ratings news on Rockwell Automation click here and for the rating history of Rockwell Automation click here.

Shares of Rockwell Automation closed at $93.05 yesterday.

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