Zacks Likes Rockwell Too
Given our concerns over some of the leading tech markets, we have tended to favor names like Rockwell Automation (ROK). By helping make factories more efficient, the company seems to be on the right side of business trends, which are to increase efficiency whenever possible.
Zacks.com had some of the same thoughts:
Rockwell Automation (ROK) is the world’s largest industrial automation company, providing power, control and information solutions to improve manufacturing productivity. September quarter top and bottom-line were in-line with consensus estimates. Forward guidance indicates that revenue is expected to increase 7-8% in fiscal 2007. The Power systems division has been divested for $1.8 billion. This has the impact of raising margins.We believe that the market has not yet impounded the recent attractive growth and earnings rates and is instead focusing on the automobile segment. Consequently, we are reiterating our Buy rating on the shares.
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