Big Firm Insight, Small Investor Profits: Top Analyst Report
Markets opened today’s session trading on yesterday’s sagging momentum, but major indexes have recovered their bullish pace this afternoon, advancing to solid gains.
Extremely strong consumer confidence numbers, bolstered by a favorable US home price report, sent the markets shooting out of their brief doldrum.
Today, we take a look at some of the top “Analyst Actions” available to News Quantified users. We rate the most prominent financial analysts around the globe and let you know when they change their rating/price target on a given stock.
What’s more, we provide data that shows our users how often the rating changes issued by a given analyst result in a “win:” price movement in the predicted direction.
Our Win% metrics let you quickly sort through the chatter to focus on analysis from financial professionals who consistently get it right.
Today’s Analyst Action, for instance, comes from Cowen Capital, which wins on an astonishing 74% of its rating changes.
This morning, Cowen Capital announced that they were upgrading Emerson Electric, and raising their price target on the stock from $61 to $71. Emerson is a US Electric Utility company.
The move comes largely due to Cowen’s approval of a strategic shift by Emerson. EMR will no longer be pursuing the hostile takeover of Rockwell Automation (ROK). Cowen’s analysis group believes that the takeover bid would have weighed down Emerson’s balance sheet with subpar earnings. Furthermore, M&A activity was creating price churn obscuring the value of EMR, analysts assert, by adding an element of speculation to an electric utility stock—traditionally a value play.
They see higher, less cyclically exposed returns in the future now that Emerson is exploring alternative capital growth strategies.
The stock has had a muted reaction to the ratings change so far, up less than 1%, suggesting substantial upside may remain.
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