Emerson relative weakness a buying opportunity, says Argus

Argus notes that Emerson (EMR) shares have underperformed the broad market over the past three months, falling 14% while the S&P 500 declined 7%, despite the fact that Emerson reported fiscal Q1 EPS that rose 13% from a year earlier and exceeded analysts’ expectations. The firm, which is maintaining its Buy rating with a price target of $148, views the relative weakness in the shares as a buying opportunity, the analyst tells investors.