- The shares of Rockwell Automation (NYSE: ROK) have received a $378 price target from Bernstein. These are the details.
The shares of Rockwell Automation (NYSE: ROK) have received a $378 price target from Bernstein. And Bernstein analyst Brendan Luecke initiated coverage of Rockwell Automation with an “Outperform” rating.
Luecke had initiated the U.S. multi-industry and electrical equipment sector at a time of great uncertainty. And Luecke sees supply chain disruptions threatening revenue forecasts and inflation pressuring margins, but believes all of this is transitory.
Plus Luecke said that the historically strong fiscal 2021 backlog numbers — in conjunction with a sound growth strategy — give confidence that Rockwell will deliver sustainably higher growth numbers after the current upcycle.
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