Rosenblatt Starts Rockwell Automation (ROK) at Neutral

January 16, 2020 4:06 PM EST
Get Alerts ROK Hot Sheet
Price: $311.55 -1.72%

Rating Summary:
    13 Buy, 19 Hold, 6 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 7 | Down: 15 | New: 24
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Rosenblatt analyst Scott Graham initiates coverage on Rockwell Automation (NYSE: ROK) with a Neutral rating, PT $217.00.

The analyst comments "We believe ROK's position in the growing automation market and well-conceived sales strategies will drive a modest acceleration in organic as F2020 progresses and into F2021. We also favor its aggressive share repurchasing and high ROIC. But of its several end-markets concern us and we expect investment spending to continue to rise. Combined, these factors limit our EPS growth forecasts to +3% and +9% in F2020 and F2021 with little growth until 4Q20. Meanwhile, the stock has materially outperformed and we think needs to take a breather."

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 $202.23 yesterday.

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