Rockwell Automation (NYSE: ROK) is on a roll. The latest third-quarter earnings were ahead of expectations, and management upgraded earnings guidance for the third time this year. Moreover, there's reason to believe there could be more upside potential this year. Here's why the best is yet to come for Rockwell in 2021.
The automation company's fortunes are tied to spending trends in the industrial sector at large. As such, Rockwell is a typical cyclical stock. As the economy improves and customers free up spending budgets, Rockwell's orders and sales start to improve.
Image source: Getty Images.
For further details see:
Does This Hot Stock's Run Have Room to Run?