Rockwell Automation edges lower after Jefferies cuts to 'hold'

Rockwell Automation

31/03/2026 11:50

** Shares of industrial automation products maker Rockwell Automation ROK.N down 0.2% at $348 premarket

** Jefferies assumes coverage on the company and downgrades rating to "hold" from "buy", cuts price target to $380 from $490

** New PT still shows an upside of 9% from the stock's last close

     ** Brokerage says continued macro uncertainty could keep co's new capex projects delayed, limiting growth in the coming days

** Adds co's key downside is rising competition in software, with peers making similar digital pushes and AI potentially pressuring future growth or pricing power

** 14 of 30 brokerages rate the stock "buy" or higher, 16 "hold"; their median PT is $440- data compiled by LSEG

** As of last close, stock had fallen 10.4% YTD

 (Reporting by Apratim Sarkar in Bengaluru)

 ((Apratim.Sarkar@thomsonreuters.com))