Deutsche Bank Reiterates Buy Rating On Emerson Electric

According to Deutsche Bank, Emerson Electric EMR EMR has a good track record of successful execution and the Network Power problems appear to be less transient than first thought. Deutsche Bank said that, “With the stock now back to $57 and at a discounted 15.7x NTM EPS, we would use this weakness to accumulate one of the best quality MI/EE stocks with appealing later cycle leverage. Reiterate buy and $66 PT.” Emerson Electric closed yesterday at $56.89.