UPDATE: Goldman Sachs Downgrades Emerson Electric to Neutral

Goldman Sachs downgrades Emerson Electric (NYSE: EMR) to Neutral on lack of near-term catalysts.

Goldman Sachs says, "Sentiment likely remains positive on late-cycle, but also improves on US auto and housing from depressed lows given signs of life (SAAR, home prices, employment) and reversion optionality."

EMR closed at $48.70 per share on Tuesday.