Deutsche Bank Cuts Price Target For Several Industrial Stocks

Deutsche Bank analyst Nicole DeBlase Lowered the price target for several multi-industry sector companies.

Deutsche Bank analyst Nicole DeBlase Lowered the price target for several multi-industry sector companies.

• The analyst does not expect supply chain and price/cost headwinds to alleviate in the second half of 2022 for the multi-industry sector. 
• When balancing the omicron variant, inflation, and forthcoming rate hikes, DeBlase is still "constructive" on the macro outlook but says a "more selective stock positioning framework" is warranted. For most names that she covers, the analyst is not concerned with the premise of "double ordering" constraining the recovery in 2022.
• The analyst lowered Rockwell Automation Inc's (NYSE:ROK) price target to $336 (a downside of 3.8%) from $337 and maintained a Hold rating on the shares. 
• The analyst reduced the Cummins Inc. (NYSE:CMI) price target to $247 (an upside of 13%) from $251 and maintained a Hold rating on the shares.
• The analyst lowered the Dover Corp (NYSE:DOV) price target to $178 (an upside of 4%) from $187 and kept a Hold rating on the shares.
• The analyst cut the Honeywell International Inc (NYSE:HON) price target to $236 (an upside of 13%) from $246 and kept a Buy rating on the shares.
• The analyst lowered the Emerson Electric Co. (NYSE:EMR) price target to $112 (an upside of 21.59%) from $116 and maintained a Buy rating on the shares.
• The analyst reduced the United Rentals, Inc. (NYSE:URI) price target to $384 (an upside of 10.7%) from $402 and maintained a Hold rating on the shares.
• The analyst lowered the Illinois Tool Works Inc. (NYSE:ITW) price target to $220 (a downside of 9.3%) from $231 and kept a Hold rating on the shares.
• The analyst lowered the 3M Co (NYSE:MMM) price target to $182 (an upside of 3.2%) from $192 and maintained a Hold rating on the shares.
• Price Action: ROK shares are trading higher by 0.86% at $349.54, CMI lower by 0.26% at $219.02, EMR higher by 0.34% at $92.30, HON higher by 1.5% at $209.12, URI lower by 2.74% at $346.76, ITW higher by 0.43% at $242.65, DOV lower by 0.31% at $171.08 and MMM higher by 0.23% at $176.35 on the last check Friday.