Nomura Securities Maintains a 'Neutral' on Rockwell Automation (ROK); Highlights from Day 1 of the Automation Fair

Nomura Securities maintains a 'Neutral' on Rockwell Automation (NYSE: ROK) price target of $77.00.

Nomura analyst, Shannon O’Callaghan, said, "We came away bullish on Rockwell’s position and prospects in process industries. As we walked the floor at the Automation Fair, Rockwell’s process presence felt broader than currently defined. We think Rockwell’s process sales are defined as around $800M (13%+ of sales), representing controllers, software, and other optimization-type solutions sold to process customers. Technology innovation and scalability is impressive and we believe ROK is positioned to migrate some of its competitors’ installed base. Short-cycle discrete is a risk but we acknowledge that U.S. growth has been strong and we are positive on the process growth outlook."

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 $72.24 yesterday.

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