JPMorgan analyst Stephen Tusa says Emerson is his top "GARP pick" after its investor day "reinforced the compelling growth opportunities in these best-in-class franchises." Concerns around a weaker macro environment are overblown, Tusa tells investors in a research note. The analysts is scratching his head as to the stock reaction on management's perceived cautious tone. Emerson's pipeline of project orders at Automation Solutions continues to expand beyond expectations, and now stands at $7.6B, up from ~$6B a year ago, Tusa writes. He keeps an Overweight rating on the shares with a $77 price target.