Emerson (EMR) (LO) (FSS) (GPK) Get Ratings Updates

Shares of Emerson Electric (NYSE:EMR), Lorillard (NYSE:LO), Federal Signal (NYSE:FSS) and Graphic Packaging (NYSE:GPK) all received ratings updates from various brokerages.

Emerson Electric (EMR) was upgraded by Oppenheimer from "Perform" to "Outperform." Oppenheimer has a price target of $74 Emerson. Growth in emerging markets is the major catalyst for the upgrade.

Lorillard (LO) was upgraded by Citigroup (NYSE:C) from "Hold" to "Buy" on strong results in the first quarter of 2011, along with improving fundamentals, according to Citigroup. Citig increased its price target on Lorillard from $90 to $122.

Federal Signal (FSS) was downgraded by BMO Capital from "Outperform" to "Market Perform," BMO Capital cited valuation based on a $7 price target as the catalyst.

Graphic Packaging (GPK) was rated a new "Buy" by Goldman Sachs (NYSE:GS). Goldman has a price target of $6.25 on Graphic. A favorable price environment is helping drive the company, which is also managing costs well.