Deutsche Bank Upgrades Emerson Electric (EMR)

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 DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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