Jim Cramer Admits He Got Emerson (EMR) Wrong

We recently published 17 Stocks Jim Cramer Talked About. Emerson Electric Co. (NYSE:EMR) is one of the stocks that Jim Cramer talked about.

Emerson Electric Co. (NYSE:EMR) is one of the largest industrial machinery manufacturers in the world. The firm makes and sells a variety of products such as valves, actuators, and cylinders. Its shares are up by 17% over the past year and by 8% year-to-date. JPMorgan discussed Emerson Electric Co. (NYSE:EMR)’s shares in mid-January. The bank outlined that it was interested in firms that could deliver growth during the earnings cycle. According to The Fly, Evercore ISI initiated coverage of the stock in mid-December. It set a $170 share price target and an Outperform rating on the back of growth in portfolio quality due to strategic initiatives. Some factors that Evercore noted included Emerson Electric Co. (NYSE:EMR)’s automation and software products, which it believes expose the firm to growth markets. As for Cramer, the CNBC TV host admitted he was wrong about the company:

Jim Cramer Admits He Got Emerson (EMR) Wrong

“The acquisitions worked, I got that one wrong. I thought that the hostile for that National Instruments was bad idea. That was a mistake of mine. Emerson does a lot. Emerson’s like Eaton. They’re part of the secret data center plays because they’re about electricity. . .they’re making a comeback. They are takers, they are companies that use the software to get their numbers up.”

While we acknowledge the risk and potential of EMR as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than EMR and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.