Emerson (EMR) PT Lowered to $79 at RBC Capital; 'Declares Cycle Not Over'

RBC Capital lowered its price target on Emerson (NYSE: EMR) to $79.00 (from $80.00) while maintaining an Outperform rating.

Analyst Deane Dray commented, "Outperform-rated Emerson’s CEO Dave Farr delivered a booster shot to the sector by asserting that the “cycle has not peaked” and projecting another two years of solid Automation growth. This declaration accompanied a healthy F2Q18 beat & raise, paced by impressive 10% organic growth at Automation. The next stage of the Automation cycle will likely be the large project orders expected to be booked in F3Q18."

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