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:

“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.”

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

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