Artificial intelligence isn't only benefiting technology companies. A host of stocks in other industries also stand to gain, according to Nancy Tengler, chief executive officer and chief investment officer of Laffer Tengler Investments.
Berenberg last Wednesday named Emerson its top pick in the electrical equipment industry and raised its price target on the stock to $130 from $100, suggesting shares could climb 18% from Friday's close. The Street consensus is $120, according to FactSet. The investment bank said earnings estimates for Emerson continue to move higher, backed by the company's December quarter results and higher revised guidance for fiscal year 2024.
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