12:06 PM EDT, 05/09/2024 (MT Newswires) -- Emerson Electric ( EMR ) is expected to continue its beat/raise track record in the coming quarters, Deutsche Bank said Thursday.

The company on Wednesday reported better-than-expected fiscal Q2 results and updated its fiscal 2024 guidance.

"We have had our eye on EMR stock for several quarters now, but were nervous about execution amidst ongoing discrete automation/test & measurement market weakness and potential [Aspen Technology] mishaps," Deutsche Bank analyst Nicole DeBlase said in a note. "However, we have now been impressed by the company's robust operational performance for two quarters in a row, and expect this beat/raise track record to continue in the coming quarters."

The brokerage upgraded its rating on the company's stock to buy from hold while adjusting price target to $138 from $123.

Emerson Electric ( EMR ) shares were up 2.5% in recent trading.

Price: 115.36, Change: +2.71, Percent Change: +2.41