Loop Capital Maintains Hold on Rockwell Automation, Lowers Price Target to $290
Portfolio Pulse from Benzinga Newsdesk
Loop Capital analyst Chris Dankert has maintained a Hold rating on Rockwell Automation (NYSE:ROK) but lowered the price target from $300 to $290.
May 14, 2024 | 6:14 pm
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Loop Capital's analyst Chris Dankert has reaffirmed a Hold rating on Rockwell Automation, while reducing the price target from $300 to $290, indicating a cautious but slightly negative outlook on the stock's short-term price movement.
The reduction in price target by Loop Capital suggests a tempered expectation for Rockwell Automation's stock performance in the near term. While maintaining a Hold rating indicates a neutral stance on the stock's overall prospects, the decrease in price target could signal to investors a potential downside or limited upside, thus likely exerting a negative pressure on the stock's price in the short term.
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