Redburn-Atlantic Starts Rockwell Automation (ROK) at Neutral

Redburn-Atlantic analyst Richard Radbourne initiates coverage on Rockwell Automation (NYSE: ROK) with a Neutral rating and a price target of $256.00.

The analyst comments: "The long-term outlook for automation-related investment is positive. Rockwell is well positioned to capitalize, especially in the US market, although we see some risk to expectations during 2H24. While we forecast attractive growth during FY25-27, it is mostly captured in consensus expectations and not sufficient to materially expand the current EV/EBITDA valuation premium of c20% to peers. We begin coverage with a Neutral rating and price target of $256."

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 $264.07 yesterday.

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