BUZZ-Citigroup raises Rockwell Automation's PT on demand for end markets

Reuters12-08
BUZZ-Citigroup raises Rockwell Automation's PT on demand for end markets

** Citigroup raises Rockwell Automation's ROK.N PT to $466 from $439, maintains "buy" rating

** New PT an upside of 15.3% to stock's last close

** Citigroup sees solid demand across ROK's end markets and enhanced product offerings driving continued topline growth, despite lingering uncertainty around customers' capex spending

** Sees ROK benefiting from a durable U.S. automation up-cycle, supported by domestic and advanced manufacturing initiatives

** Fifteen of 29 brokerages rate the stock "buy" or higher, 13 "hold" and one "sell"; their median PT is $396.1, according to data compiled by LSEG

** Including session's move, ROK up 41.8% YTD

(Reporting by Megavarshini G. Somasundaram in Bengaluru)

((Megavarshini.SomasundaramGnanasundari@thomsonreuters.com))

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