Rockwell Automation (ROK) PT Raised to $285 at HSBC

HSBC analyst Puneet Garg raised the price target on Rockwell Automation (NYSE: ROK) to $285.00 (from $247.00) on the belief that sales and earnings set to recover strongly driven by robust orders and backlog.

However the analyst reiterated a Hold rating on the belief that shares are fully valued. He stated "Rockwell has robust secular automation fundamentals, strong cash flow generation and best-in-class RoIC, in our view; however with 2.2% downside implied by our new TP, we maintain our Hold rating"..

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