Rockwell Automation upgraded to Buy from Hold at Jefferies

Jefferies upgraded Rockwell Automation (ROK) to Buy from Hold with a price target of $350, up from $290. The firm sees a recovery in manufacturing sentiment, bolstered by the potential for lower interest rates, reduced corporate taxes, and deregulation. In the context of this view, the analyst says Rockwell should see growth rebound in the second half of FY25 following a “disappointing” FY24, arguing that the company is primed for margin expansion as management focuses on “operational excellence.”