Emerson price target raised to $146 from $133 at Citi

Citi raised the firm’s price target on Emerson to $146 from $133 and keeps a Buy rating on the shares. The firm says its sixth annual automation survey of 200 manufacturing decision makers highlights potential near-term resilience in automation spending despite a more uncertain macro environment as well as potential for an acceleration in automation adoption momentum over the next few years as decision makers aim to enhance manufacturing productivity and lower operating costs. This should be a “sustainable tailwind” for pure-play automation provider Rockwell Automation (ROK) as well as other automation-exposed companies like Emerson (EMR) and Honeywell (HON), the analyst tells investors in a research note.