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Emerson Electric Still a “Buy” at Nomura; Organic Sales Rising (EMR)

By Dividend.com,  May 23, 2012, 09:32:06 AM EDT

Diversified technology and engineering company Emerson Electric Co. ( EMR ) on Wednesday caught some continued bullish support from analysts at Nomura Securities.

The firm maintained its "Buy" rating and $64 price target on EMR, which suggests a 36% upside to the stock's Tuesday closing price of $47.18.

A Nomura analyst commented, "Organic orders accelerate; process strong. 3-month rolling orders were up 5% organically in April vs. +4% in March (fastest growth since October 2011). Process remains very strong, with organic orders up 22%, and importantly the company confirms expected stronger-than-normal backlog conversion in Process in 2H supporting 'very strong sales growth through the balance of 2012.' Network Power orders declined 5% organically, but the Systems business, which excludes embedded computing and power (which we view as non-core), was up 2%. Industrial Automation was flat organically, with power generating alternators down against tough comps, while Climate saw robust orders in Asia and April acceleration in the U.S., but still softness in Europe."

Emerson Electric shares fell 41 cents, or -0.9%, in premarket trading Wednesday.

The Bottom Line
Shares of Emerson Electric ( EMR ) have a 3.39% dividend yield, based on last night's closing stock price of $47.18. The stock has technical support in the $44 price area. If the shares can firm up, we see overhead resistance around the $50-$52 price levels.

Emerson Electric Co. ( EMR ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: EMR



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