On July 6, Rockwell Automation rose 3.18% in regular trading, trading at $486.75/share, with turnover of $31.57 million. The stock gained alongside broad strength in the Electrical Components & Equipment sector.
The rally comes on the heels of multiple analyst price target increases. Baird raised its target on Rockwell Automation to $527 from $470 on July 1, maintaining an Outperform rating, while Argus lifted its target to $530 from $465 in late June. The consensus mean price target now stands at $471.44 with an average overweight rating. These upgrades followed Rockwell's strong Q2 results in May, where adjusted EPS of $3.30 beat the $2.89 estimate by 14%, and full-year guidance was raised to $12.50-$13.10 adjusted EPS versus the prior $12.06 consensus.
Within the Electrical Components & Equipment sector, individual stocks posted broad gains, with Vertiv Holdings up 8.63%, FuelCell up 8.57%, Vicor up 6.03%, Eaton up 4.58%, and nVent Electric up 4.34%.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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