UPDATE: Barclays Upgrades Rockwell Automation (ROK) to Overweight

(Updated - November 18, 2019 4:59 AM EST)

(update comment)

Barclays analyst Julian Mitchell upgraded Rockwell Automation (NYSE: ROK) from Equalweight to Overweight with a price target of $3.00 (from $159.00).

The analyst comments "If the current malaise turns out to be more of a mid-cycle ‘pause’, and ROK skirts an industrial downturn (which is our base case), history (for instance the 2014 experience) suggests that ROK will grow organic sales at a mid-single digit pace in the early stage of its re-acceleration, with a healthy (40-50%) incremental margin. This is our base case assumption, which we think helps to explain why our FY21 adj. EPS estimate is 9% above consensus."

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

Shares of Rockwell Automation closed at $200.27 yesterday.

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