Why Shares of Rockwell Automation Inc. Popped 13% in October
Shares of industrial supplier Rockwell Automation Inc. (NYSE: ROK) jumped 12.7% in October, according to data provided by S&P Global Market Intelligence, after the company rejected multiple buyout bids from Emerson Electric (NYSE: EMR). Most of the pop happened on the final day of the month when Rockwell publicly rejected an offer of $214.50 per share, so management has confidence in the company's future.
Rockwell is one of the best automation plays in the market today, which is why Emerson Electric was interested in the first place. But getting to a buyout price that made sense for both sides never happened, and Rockwell doesn't seem to have been interested in being acquired at all.
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Source: Fool.com
Rockwell Automation Stock
€234.90
-0.840%
Currently there is a rather positive sentiment for Rockwell Automation with 13 Buy predictions and 8 Sell predictions.
As a result the target price of 262 € shows a slightly positive potential of 11.54% compared to the current price of 234.9 € for Rockwell Automation.
