ROK: Wells Fargo Industrials & Materials Conference Takeaways

Research evidence excerpt

ROK: Wells Fargo Industrials & Materials Conference Takeaways

Equity Research

Flash Comment — June 11, 2026

Electrical Equipment & Multi-Industry

Rockwell Automation, Inc.

Wells Fargo Industrials & Materials Conference Takeaways Equal Weight

Price Target: $440.00

Ticker ROK

Our Call Upside/(Downside) to Target (2.9)%

Today we hosted ROK for a fireside chat at the Wells Fargo Industrials & Materials Price (06/11/2026) $453.35

Conference with Matheus Bulho (SVP, S&C) and Aijana Zellner (IR), highlighting a 52 Week Range $305.44 - 468.11

broadening out in demand, a growing DC opportunity, and a strong software moat. Market Cap (MM) $51,047

Source: Company Data, Wells Fargo Securities estimates, and Factset.

Initial Thoughts NA = Not Available, NC = No Change, NE = No Estimate

Demand remains solid with growth broadening across end markets, including Semi, DC, Joseph O'Dea

e-Commerce & Warehouse and Energy, alongside steady activity in F&B and Auto. Mix is Equity Analyst | Wells Fargo Securities, LLC

Joseph.Odea@wellsfargo.com | 212-214-5993

still skewed toward smaller, ROI-driven modernization projects, while customers remain

more cautious on larger, long-cycle Capex, though select pockets (DC, warehouse, semi) Zachary Schechtman

are seeing increased large-project activity. Equity Analyst | Wells Fargo Securities, LLC Zachary.Schechtman@wellsfargo.com | 212-214-8014

Judah Esses

Channel visibility has improved significantly vs pre-pandemic, with active distributor Associate Equity Analyst | Wells Fargo Securities, LLC

inventory management and tools that track both order magnitude and product mix Judah.E.Esses@wellsfargo.com

to flag abnormal patterns. Management can investigate demand in real time and has