Rockwell Automation (ROK) PT Lowered to $295 at Oppenheimer

Oppenheimer analyst Noah Kaye lowered the price target on Rockwell Automation (NYSE: ROK) to $295.00 (from $300.00) while maintaining a Outperform rating.

The analyst commented: "Shares of ROK finished the quarter roughly flat following the company’s guidance cut and restructuring announcement during F2Q earnings. Heading into F3Q earnings, we believe investors are looking for (1) proof points around an end to destocking headwinds and F4Q exit rate for end-market demand; (2) the scope and impact to FY25 incrementals of additional cost reduction actions signaled during F2Q; and (3) updates on the CFO transition. We view progress on these fronts along with better execution as key to improving sentiment, noting a relatively low bar on FY24 consensus expectations."

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