I thought that Emerson (EMR) was attractively priced back in April,
even with challenges in the company’s energy-driven process automation
markets that are likely to persist a while, and the shares have since
outperformed the average industrial stock – though a few names in
automation like ABB (ABB) and Rockwell (ROK) have done better (ABB on turnaround hopes, Rockwell because it’s Rockwell and everybody
loves Rockwell…). With that outperformance, I see Emerson’s near-term
potential as more “in line” than superior, but that’s not bad for a
company that still has some relatively attractive long-term
opportunities in automation.
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