Emerson price target raised to $160 from $145 at Wells Fargo

Wells Fargo analyst Joseph O’Dea raised the firm’s price target on Emerson (EMR) to $160 from $145 and keeps an Equal Weight rating on the shares. The firm viewed orders as the KPI this quarter, with a low double-digit order scenario adding shortfall risk to the second-half organic revenue guide of mid-single-digit growth, while a mid-single-digit order scenario would support second-half organic revenue. High-single-digit orders are clearly a positive outcome, as the firm’s EPS estimate moves up 1%.