Credit Suisse left investor meetings last week with Emerson CEO David Farr feeling the company is more willing to undertake strategic actions. The firm believes Emerson will reduce the size of its operating units and move money away from buybacks and into acquisitions. It also believes Farr has desire to increase the balance sheet leverage, particularly for M&A. Credit Suisse estimates these moves could add $16 to Emerson's fair value. Over the near-term, however, the firm thinks weakening orders and margins under pressure are likely to disappoint. It keeps an Overweight rating on Emerson with a $66 price target. The stock is up 76c to $57.61 in early trading.