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Morgan Stanley Downgrades Emerson Electric (EMR)
Morgan Stanley reported on Tuesday that they have reduced their rating for electrical technology company, Emerson Electric Co.(EMR
).
The firm has downgraded EMR to an “Equal Weight,” and has given the company a $62 price target. This price target suggests a 12.8% increase from the stock’s current price of $54.06.
Analysts have downgraded the stock due to the stock’s valuation.
Emerson Electric shares were down 64 cents, or -1.17% during premarket trading Tuesday. The stock has increased 16% in the past year.
The Bottom Line
Shares of Emerson Electric (EMR) have a 3.00% dividend yield, based on last night’s closing stock price of $54.70. The stock has technical support in the $50-$52 price area. If the shares can firm up, we see overhead resistance around the $57-$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.
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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