UPDATE - Nomura Securities Upgrades Emerson (EMR) to Buy; Great Company That Is Undervalued
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Price: $154.72 -1.83%
Rating Summary:
26 Buy, 20 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
Rating Summary:
26 Buy, 20 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
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UPDATE - Nomura Securities upgrades Emerson (NYSE: EMR) from Neutral to Buy. PT raised from $55 to $64.
Analyst, Shannon O'Callaghan, said, "We are upgrading EMR given inexpensive valuation and our expectation for a turnaround in Network Power, Pressures in Network Power have driven investor sentiment and Emerson’s relative P/E vs. the sector to 10-year lows. We believe issues in Network Power are being conflated and exaggerated to the point that Emerson’s ability to build businesses (such as Process Management) is being questioned and undervalued. On calendar 2012E EPS, Emerson trades in line with our sector, the bottom of 10-year typical range of a 0–20% premium. We raise our 2013 EPS estimates to from $3.95 to $4.00 (vs. Street at $3.99) and raise our PT on 16x 2013E EPS (vs. range of 16x-19x)."
To see more ratings on EMR, Click Here
Analyst, Shannon O'Callaghan, said, "We are upgrading EMR given inexpensive valuation and our expectation for a turnaround in Network Power, Pressures in Network Power have driven investor sentiment and Emerson’s relative P/E vs. the sector to 10-year lows. We believe issues in Network Power are being conflated and exaggerated to the point that Emerson’s ability to build businesses (such as Process Management) is being questioned and undervalued. On calendar 2012E EPS, Emerson trades in line with our sector, the bottom of 10-year typical range of a 0–20% premium. We raise our 2013 EPS estimates to from $3.95 to $4.00 (vs. Street at $3.99) and raise our PT on 16x 2013E EPS (vs. range of 16x-19x)."
To see more ratings on EMR, Click Here
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