Barclays analyst Julian Mitchell raised the firm’s price target on Rockwell Automation (ROK) to $370 from $350 and keeps an Overweight rating on the shares. The firm sees high investor expectations for the multi-industry sector heading into the Q2 reports. Most companies are positioned to beat estimates and raise guidance despite tepid consumer demand, the analyst tells investors in a research note. However, Barclays sees a neutral risk/reward for stocks in the group despite positive estimate revisions given the recent sector rally.
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Read More on ROK:
- Rockwell Automation initiated with an Outperform at CICC
- Rockwell Automation price target raised to $360 from $330 at BofA
- Rockwell Automation price target raised to $365 from $315 at Wells Fargo
- Rockwell Automation price target raised to $360 from $345 at KeyBanc
- Rockwell ‘definitely seeing’ uptick in demand for product part of business