TD Cowen upgraded Rockwell Automation (ROK) to Hold from Sell with a price target of $275, up from $215. The company’s negatives are well known and its cost control appears to have put a floor on near-term earnings excluding a recession as orders have stabilized, the analyst tells investors in a research note. TD still has growth concerns and says the macro environment “remains uncertain at best.” However, Rockwell ‘s setup feels more balanced, contends the firm.
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