Emerson Electric price target raised to $130 from $115 at Argus

Argus analyst John Eade raised the firm’s price target on Emerson Electric to $130 from $115 and keeps a Buy rating on the shares after its Q2 earnings beat reported last week. The company has shifted its focus in recent quarters, divesting legacy segments and investing in new businesses that target energy security and affordability, sustainability and decarbonization, the analyst tells investors in a research note. Over time, Emerson should be able to generate high single-digit EPS growth driven by 3%-4% revenue growth, margin improvement, and share buybacks, the firm added.