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Fly News Breaks for January 13, 2020
EMR
Jan 13, 2020 | 08:01 EDT
Barclays analyst Julian Mitchell raised Emerson Electric's price target to $78 from $75 after meeting with management and keeps an Equal Weight rating on the shares. The analyst cites the re-rating among peer valuations, and the potential for Emerson to start to receive credit for its increased digital efforts for the target raise. There are signs that in the automation world Emerson is making very good progress in moving "up" the plant stack, and is taking advantage of rising IT penetration in industrial plants, Mitchell tells investors in a research note. Further, while the near-term demand environment "remains subdued," there are signs of certain large projects starting to proceed, adds Mitchell.
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