Wolfe Research analyst Nigel Coe upgraded Emerson Electric (EMR) to Outperform from Peer Perform with a $103 price target, which represents a 19% premium to the current stock price. The stock has significantly underperformed on portfolio and capital re-allocation uncertainty, the analyst tells investors in a research note. The National Instruments (NATI) transaction "marks the start of the next phase," and the new Emerson should emerge as a higher growth and quality company, and at a significant valuation discount, says the firm.
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Read More on EMR:
- National Instruments downgraded to Hold from Buy at Jefferies
- Emerson price paid for NATI ‘net negative,’ says JPMorgan
- Emerson went against word by buying NATI, says Deutsche Bank
- National Instruments downgraded to Equal Weight at Morgan Stanley
- Emerson (NYSE:EMR) Acquires National Instruments for $60 a Share