Cowen Upgrades Emerson (EMR) to Outperform
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Cowen analyst Gautam Khanna upgraded Emerson (NYSE: EMR) from Market Perform to Outperform with a price target of $70.00 (from $63.00).
The analyst comments "EMR has many investment merits: "knowable" demand headwinds, a well-defined restructuring (R/S) plan under proactive management, and a high dividend buttressed by strong liquidity. Over the next year, comps will be easy, and CEO Dave Farr will transition out, likely to a successor who will become obvious via performance through this downturn. We expect the stock to grind up to our $70 PT."
Shares of Emerson closed at $61.11 yesterday.
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