- Emerson (EMR -0.2%) is upgraded to Neutral from Sell with a $64 price target, raised from $51, at UBS, which cites improved order trends and margin execution following better than expected FQ1 results.
- UBS notes that EMR's process automation orders had been tracking down by the high teens on a percentage basis near the end of FQ4, which it expected to weigh heavily on EMR's FY 2017 automation solutions revenues and the company's FY 2017 EPS guidance of $2.35-$2.50; however, December orders for automation solutions turned higher by mid-single digits and FQ1 results were better than expected.
- Separately, the EU says it cleared EMR's acquisition of Pentair's (NYSE:PNR) valves and controls business.