Jefferies upgrades Rockwell Automation to 'buy', raises PT

Rockwell Automation

12/12/2024 17:39

(Updates)
    ** Shares of automation products maker Rockwell Automation
 ROK.N  up 1.5% at $301.72 in afternoon trading
    ** Brokerage Jefferies upgrades ROK stock to "buy" from
"hold" and raises target price to $350 from $290
    ** "We expect ROK to benefit from a rebound in domestic
capital investment in CY25 given its leading position in U.S.
industrial automation (~50% of sales)," says Jefferies
    ** The new PT represents a 17.7% upside to the stock's last
close
    ** 10 of 29 brokerages rate the stock "buy" or "higher", 16
"hold" and 3 "sell"; median PT $297 - LSEG
    ** As of last close, ROK shares down ~4% YTD

 (Reporting by Rupali Chaudhary in Bengaluru)
 ((Rupali.Chaudhary@thomsonreuters.com))