UPDATE: Argus Starts Rockwell Automation (ROK) at Buy

October 5, 2021 6:59 AM EDT
Get Alerts ROK Hot Sheet
Price: $316.30 -0.44%

Rating Summary:
    14 Buy, 18 Hold, 7 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 16 | Down: 18 | New: 32
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(Updated - October 5, 2021 7:00 AM EDT)

Argus analyst John Eade initiates coverage on Rockwell Automation (NYSE: ROK) with a Buy rating and a price target of $330.00.

The analyst comments "We are launching coverage of Rockwell Automation Inc. (NYSE: ROK) with a BUY rating. Rockwell Automation is a global leader in industrial automation and digital transformation services. Rockwell, whose products include sensors, control systems, and industrial control panels, serves customers in industries ranging from life sciences to electric vehicles. The company's earnings are recovering from their pandemic lows, and we forecast solid double-digit growth over the next several quarters. Rockwell has a clean balance sheet and high-quality earnings, and is focused on shareholder returns through both dividends and stock buybacks. There are risks. The shares are not cheap. But the technical pattern is bullish, and ROK shares have a long record of market and sector outperformance. Our 12-month target price is $330."

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 $292.75 yesterday.

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