Shares of Emerson (EMR) soared 5.02% in pre-market trading on Monday, following a bullish update from Citigroup analysts. The surge comes as Citigroup raised its price target for the industrial technology company from $127 to $133, while maintaining a Buy rating on the stock.
The revised price target aligns with the current consensus among analysts polled by FactSet, who have set a mean price target of $133 for Emerson. The industrial giant continues to receive favorable attention from Wall Street, with an average rating of overweight, indicating analysts' positive outlook on the company's future performance.
Investors appear to be responding enthusiastically to this vote of confidence from Citigroup, driving up Emerson's stock price ahead of the regular trading session. As the market opens, all eyes will be on Emerson to see if it can maintain this upward momentum throughout the day.
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