Emerson Electric Co: Deutsche Bank Upgrades Rating to Strong Buy Amid Strong Q2 Performance

WallStreetZen05-10

Deutsche Bank's Nicole Deblase upgraded their rating on Emerson Electric Co (NYSE: EMR) from Hold to Strong Buy on May 9, 2024. The analyst also raised their price target by 12.2% from $123 to $138....

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The analyst also raised their price target by 12.2% from $123 to $138....</p>\n\n<a href=\"https://www.wallstreetzen.com/news/emerson-electric-co-deutsche-bank-upgrades-rating-to-strong-buy-amid-strong-q2-performance\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4096","symbol_name":"电气部件与设备","start_time":0,"source_url":"https://www.wallstreetzen.com/news/emerson-electric-co-deutsche-bank-upgrades-rating-to-strong-buy-amid-strong-q2-performance","article_id":"2434637834","we_media_id":null,"thumbnails":["https://images.unsplash.com/photo-1559569283-327b99858782?crop=entropy&cs=tinysrgb&fit=crop&fm=jpg&ixid=M3w0NDY2OTN8MHwxfGFsbHx8fHx8fHx8fDE3MDc0NjUzNzV8&ixlib=rb-4.0.3&q=80&w=260&utm_source=wallstreetzen&utm_medium=referral&utm_campaign=api-credit&h=180"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2434637834","pubTimestamp":1715335920,"sourceInfo":{"source_id":"wallstreetzen_highlight","name":"WallStreetZen"},"weMediaInfo":null,"summary":"Deutsche Bank's Nicole Deblase upgraded their rating on Emerson Electric Co (NYSE: EMR) from Hold to Strong Buy on May 9, 2024. The analyst also raised their price target by 12.2% from $123 to $138.De","collect":0,"end_time":0,"defaultTopTitle":"wallstreetzen.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4096":"电气部件与设备","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4588":"碎股","SG9999003800.SGD":"Nikko AM Global Dividend Equity Acc SGD-H","SG9999011175.SGD":"Nikko AM Global Dividend Equity Dis SGD-H","EMR":"艾默生电气","DB":"德意志银行","BK4585":"ETF&股票定投概念"},"translate_title":"艾默生电气公司：在Q2表现强劲的情况下，德意志银行将评级上调至强烈买入","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"DB":1,"EMR":1},"content_text":"Deutsche Bank's Nicole Deblase upgraded their rating on Emerson Electric Co (NYSE: EMR) from Hold to Strong Buy on May 9, 2024. The analyst also raised their price target by 12.2% from $123 to $138.Deblase's decision to upgrade the rating comes after a thorough review of Emerson Electric Co's second-quarter 2024 earnings report. The analyst expressed their admiration for the company's strong operational performance over the past two consecutive quarters, stating that they believe this positive momentum will continue in the future.Emerson Electric Co's second-quarter earnings report revealed impressive results across various metrics. The company reported earnings per share (EPS) of $1.36, surpassing the Zacks Consensus Estimate of $1.26. This figure also represented a significant increase of 25% compared to the second quarter of 2023, which reported EPS of $1.09.Moreover, Emerson Electric Co's revenue for the second quarter of 2024 stood at $4.38 billion, exceeding the Zacks Consensus Estimate by 2.02%. This figure also demonstrated a substantial year-over-year growth of 17% compared to the second quarter of 2023, which reported revenue of $3.76 billion.The company's operating cash flow and free cash flow also witnessed strong year-over-year growth. Operating cash flow reached $757 million, marking a 32% increase, while free cash flow amounted to $675 million, also reflecting a 32% increase.Looking ahead, Emerson Electric Co's management provided guidance for the third quarter of 2024 and the full fiscal year 2024. For the third quarter, the company expects EPS in the range of $1.38 to $1.42, with revenue growth projected to be between 11% and 12.5%. For the full fiscal year, management anticipates EPS in the range of $5.40 to $5.50, accompanied by revenue growth of 15% to 16%. Additionally, the company expects operating cash flow of $3.1 billion and free cash flow of $2.7 billion for fiscal year 2024.President and CEO Lal Karsanbhai expressed satisfaction with Emerson Electric Co's performance in the second quarter, highlighting the company's sales growth, margin expansion, and earnings exceeding expectations. Karsanbhai also emphasized the strength of the company's transformed portfolio and the Emerson Management System, which positions them well to deliver differentiated solutions and create value for shareholders.In addition to Deutsche Bank's upgrade, other analysts also shared their revised ratings on May 9, 2024. Michael Halloran from Baird lowered their price target on Emerson Electric Co by 3.3% from $120 to $116 while maintaining a Hold rating on the stock. On the other hand, Brett Linzey from Mizuho raised their price target by 3.8% from $130 to $135, maintaining a Strong Buy rating on the stock.The overall sentiment among top-rated analysts towards Emerson Electric Co remains positive. Currently, 72.7% of these analysts rate the stock as a Strong Buy or Buy, while 27.3% consider it a Hold. Notably, none of the analysts recommend or strongly recommend selling the stock.Since the release of Emerson Electric Co's latest quarterly report on May 8, 2024, the stock price has increased by 2.6%. When compared year-over-year, the stock has experienced a substantial growth of 38.2%. During this period, Emerson Electric Co has outperformed the S&P 500, which has seen a 26.6% increase.Deutsche Bank analyst Nicole Deblase is highly regarded among Wall Street analysts, ranking in the top 4% out of 4,579 analysts, according to WallStreetZen. With an average return of 17.1% and a win rate of 55.5%, Deblase specializes in analyzing companies in the Industrials, Consumer Cyclical, and Basic Materials sectors.Emerson Electric Co, founded in 1890 and headquartered in St. Louis, MO, is a multi-industrial conglomerate operating through two segments: Automation Solutions and Commercial and Residential Solutions. The Commercial and Residential Solutions segment offers well-known household brands such as Copeland, InSinkErator, and RIDGID. The Automation Solutions segment provides measurement instrumentation, valves, actuators, and various other products and services.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2434637834"}