Emerson price target raised to $140 from $125 at KeyBanc

KeyBanc analyst Ken Newman raised the firm’s price target on Emerson (EMR) to $140 from $125 and keeps an Overweight rating on the shares. The firm notes shares outperformed following the company’s Q4 results and announcement of portfolio transformation actions. Management noted FY24 growth was driven by Process and Hybrid businesses, offset by ongoing weakness in Discrete end markets. That said, Discrete orders inflected positively in Q4 and KeyBanc was encouraged by management’s comments that these end markets have likely bottomed.