Rockwell Automation price target raised to $260 from $250 at Loop Capital

Loop Capital analyst Chris Dankert raised the firm’s price target on Rockwell Automation (ROK) to $260 from $250 and keeps a Hold rating on the shares after attending the company’s Annual Automation Fair event in Anaheim, CA. “Investor-centric” presentations spent the vast majority of time on Rockwell’s differentiated growth drivers rather than cost optimization, which was further driven home by the company’s show floor demonstrations, the analyst tells investors in a research note. This was “encouraging”, with the management explicitly indicating that the focus is on reaccelerating organic growth where leverage on core volumes can provide the greatest earnings upside, Loop adds.