Rockwell Automation: A Play on Manufacturing Recovery
- May 12, 2021
Raising Price Target to $286
Citing a record $2 billion in orders even with later-cycle Lifecycle Sciences business lagging, Rockwell Automation (ROK) detailed what it views as structural support for multi-year North American manufacturing expansion.
Secular trends in EV, semiconductor, packaging and e-commerce are key growth areas for ROK, while supply chain resiliency, cybersecurity, and labor productivity solutions are contributing to wallet share gains.
Oppenheimer analysts update their model for F2Q results and updated guidance, while raising the price target to $286 from $280.
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