ROK - Rockwell Automation upgraded to Peer Perform at Wolfe Research
2023-07-11 08:22:44 ET
- Rockwell Automation ( NYSE: ROK ) on Tuesday was upgraded to Peer Perform from a prior investment rating of Underperform by analysts at Wolfe Research. They said the industrial-technology company is trading at a valuation consistent with historical ranges.
- At 26 times next-12-month price-to-earnings, Rockwell’s ( ROK ) stock is trading at the high end of its peer group. Its relative premium of 28% is in line with the 27% to 30% range of the past five years, according to Wolfe.
- The analysts said there are lingering concerns about Rockwell’s ( ROK ) under-investment in software, and they would prefer if the company owned industrial internet of things ((IIoT)) technology throughout the value chain.
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Rockwell Automation upgraded to Peer Perform at Wolfe Research