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Electronic engineering specialist Emerson Electric Co. ( EMR ) on Friday caught some continued positive support from analysts at Nomura Securities..

The firm maintained its "Buy" rating and $64 price target on EMR, suggesting a 38% upside to the stock's Thursday closing price of $46.49.

A Nomura analyst commented, "We think the announcement on 6/13 of a change in leadership for the Industrial Automation segment may have raised investor concerns. While we remain relatively cautious around the Industrial Automation segment in 2H, we think the management change was unrelated to trends or performance in the business. We continue to view Emerson as attractively valued. Our F12E EPS of $3.40 is at the lower end of $3.35-$3.50 guidance and the Street at $3.39, given the IA's exposure to Europe. Valuation at a 6% discount to our sector on C12E EPS makes a low EPS hurdle."

Emerson Electric shares were unchanged in premarket trading Friday.

The Bottom Line
Shares of Emerson Electric ( EMR ) have a 3.44% dividend yield, based on last night's closing stock price of $46.49. The stock has technical support in the $42 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 .

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