** Rockwell Automation ROK.N shares up 0.6% premarket

** TD Cowen hikes stock rating on ROK to "hold" from "sell", marking second upgrade from a brokerage this week

** "We still have growth concerns and the macro remains uncertain at best, but the setup feels more balanced today" - brokerage

** Earlier this week, ROK raised its annual profit forecast on higher margins

** Raises PT to $275 from $215, still a 5.6% downside to stock's last close

** 13 brokerages rate the stock "buy" or higher, 14 "hold" and 2 "sell"; their median PT is $304 - LSEG data

** Stock up ~2% YTD as of last close

(Reporting by Anshuman Tripathy)

((Anshuman.Tripathy@thomsonreuters.com))