Investing
Emerson Added to Goldman Sachs Conviction Buy List (EMR, DHR, TYC)
Published:
Goldman Sachs has raised its "Neutral" rating on Emerson Electric (NYSE:EMR) and added it to the Conviction Buy List. Goldman based the upgrade on positive earnings outlook and an attractive risk versus rewards analysis. Its 2008 and 2008 estimates were raised and it now sees 12% upside to the $52.00 prior target with a new target set at $58.00. Goldman Sachs also noted that Emerson is one of its six well positioned multi-industry primes at this stage of the cycle and lists catalysts as upward earnings revisions and even lists M&A in the fold. As a "flight from the dollar" this works as well, because Goldman Sachs lists 52% of sales being non-U.S and noted exposure to oil and gas.
On the reverse, Goldman Sachs downgraded Danaher Corp. (NYSE:DHR) to Neutral and downgraded Tyco International (NYSE:TYC) to a "SELL" rating.
Emerson Electric shares are trading up over 2% pre-market at $52.75. Danaher shares are down 1% at $82.00 pre-market and Tyco shares are trading down 1.5% at $44.00 in pre-market activity.
Jon C. Ogg
September 27, 2007
Essential Tips for Investing: Sponsored
A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
