Barclays Maintains an 'Overweight' on Rockwell Automation (ROK); F4Q11: Automation Cycle Intact

Barclays maintains an 'Overweight' on Rockwell Automation (NYSE: ROK) price target raised $3 to $91.

Barclays analyst says, "Bullish ROK thesis remains on track. We view the ROK story as a combination of a potential automation "super-cycle", cyclical stability, company share gains, and better-than-historic mid-cycle incremental margins. Automation adoption rates continue to increase in emerging markets, and a long-tailed reinvestment cycle in developed markets creates what could become a potential "super-cycle" in which ROK is well positioned."

"...ROK is the 2nd multi-industry company to guide FY12 (along w/ Emerson (NYSE: EMR)), and both were much better than expected-a good sign for industrial stocks as little incentive for companies to give aggressive forecasts right now. We are raising our 2012e EPS to $5.20 from $5.15."

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 $74.33 yesterday.

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