Nomura Securities Maintains a 'Buy' on Emerson (EMR); Organic Orders Accelerate

Nomura Securities maintains a 'Buy' on Emerson (NYSE: EMR) price target of $64.00.

Analyst, Shannon O'Callaghan, said, "Organic orders accelerate; process strong. 3-month rolling orders were up 5% organically in April vs. +4% in March (fastest growth since October 2011). Process remains very strong, with organic orders up 22%, and importantly the company confirms expected stronger-than-normal backlog conversion in Process in 2H supporting “very strong sales growth through the balance of 2012.” Network Power orders declined 5% organically, but the Systems business, which excludes embedded computing and power (which we view as non-core), was up 2%. Industrial Automation was flat organically, with power generating alternators down against tough comps, while Climate saw robust orders in Asia and April acceleration in the U.S., but still softness in Europe."

For an analyst ratings summary and ratings history on Emerson click here. For more ratings news on Emerson click here.

Shares of Emerson closed at $47.18 yesterday.

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