Bank of America is sticking by Emerson Electric after a postearnings sell-off, as the company could benefit from manufacturing shifting back to the U.S. Emerson Electric's fiscal third-quarter results were mixed, hurt by weaker-than-expected sales. The company, which makes autonomous technology and industrial goods, lowered its full-year outlook and now estimates sales will rise 3.5% from the prior fiscal year, rather than its earlier forecast of 4% growth. Shares slipped about 8% on the heels of the report on Wednesday and were down another 2% in trading on Thursday. The pullback could be "an opportunity to buy pure-play automation at a discount," analyst Andrew Obin said, adding that the sour sentiment is likely overblown. "We think the stock reaction reflects a 'less upside' narrative v

See Full Page