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Fly News Breaks for March 28, 2018
ROK
Mar 28, 2018 | 04:52 EDT
Wells Fargo analyst Richard Kwas upgraded Rockwell Automation to Outperform and raised his price target for the shares to $205 from $200. The company's fiscal 2018 organic growth "has room to outperform" while its fiscal 2017 restructuring should yield "steady margin benefits" into fiscal 2019, Kwas tells investors in a research note. The analyst, who notes his Q channel checks were strong, adds that U.S. tax reform offers a potential growth catalyst on go-forward basis. He points out Rockwell shares are down 12% year-to-date.
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