Emerson Electric "buy," target price raised

05/04/06 - Deutsche Securities

NEW YORK, May 4 (newratings.com) - Analyst Nigel Coe of Deutsche Bank Securities reiterates his "buy" rating on Emerson Electric (EMR), while raising his estimates for the company. The target price has been raised from $89 to $93.

In a research note published yesterday, the analyst mentions that the company has posted robust results for the latest quarter. The EPS estimate for 2006 has been raised from $4.32 to $4.36 partly to reflect the continued buildup in Process Management’s backlogs and organic growth acceleration at Automation and Network Power.