Rosenblatt Downgrades Rockwell Automation (ROK) to Sell

April 29, 2020 6:36 AM EDT
Get Alerts ROK Hot Sheet
Price: $297.81 -0.48%

Rating Summary:
    13 Buy, 19 Hold, 6 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 25 | Down: 37 | New: 115
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Rosenblatt analyst Scott Graham downgraded Rockwell Automation (NYSE: ROK) from Neutral to Sell with a price target of $173.00.

The analyst comments "F2Q20 EPS were strong and a big beat. But the conference call left us concerned over the F3Q20 and F21 earnings outlooks. 3Q earnings will be much lower than we expected due to a weak decremental margin. F21 earnings growth will, in our view, be blunted by reversals of this year's largely variable and discretionary cost reductions. We have lowered our estimates in all periods and now expect earnings declines over the next 4 quarters."

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 $196.10 yesterday.

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