Deutsche Bank Upgrades Emerson Electric (EMR)
Deutsche Bank announced on Thursday that they have increased their rating on technology company, Emerson Electric Co.(EMR).
The firm has upgraded EMR from a “Hold” to a “Buy,” and has raised its price target from $60 to $68. This price target suggests a 15% upside from the stock’s current price of $57.67.
A Deutsche Bank analyst noted, “we believe EMR is a high quality, out-of-consensus industrial with favorable elevated global and emerging markets exposures – particularly in China where Emerson carries high direct sales exposure and where the data trend continues to point to economic rebound.”
Emerson Electric shares were up 77 cents, or 1.35% during Thursday morning trading. The stock has increased 13% in the past year.
The Bottom Line
Shares of Emerson Electric (EMR) have a 2.88% dividend yield, based on last night’s closing stock price of $56.87. The stock has technical support in the $52-$53 price area. If the shares can firm up, we see overhead resistance around the $59-$60 price levels.
Emerson Electric Co.(EMR) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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