2/9/2010- Morgan Stanley analysts are upgrading Rockwell Automation (NYSE:ROK) to "equal weight" following improved industrial operating expenditure trends and strong operating leverage.

Analysts Scott Davis, Mike Stein, John R. Chappell, and Matt Gugino said, "Following results from ROK, EMR, and Siemens, any doubts that the cycle has turned up for real in automation have been laid to rest, in our view. ROK is very well positioned into the recovery and rate of change is quickening. We are raising our price target to $57 from $51, based on a 19x multiple to our "mid cycle" 2011E of $3.00."

Morgan Stanley sees fiscal 2010 EPS of $2.05, vs. the consensus estimates of $2.29, and fiscal 2009 EPS of $3.00, vs. the consensus estimates of $2.99.

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