UPDATE 4-Rockwell Auto profit drops, warns outlook unclear

* Q4 EPS 20 cents vs. year-earlier 87 cents

* Sets FY 2010 EPS target $1.25-$1.75

* Sees weak start to FY 2010, stronger second half

* CEO sees growth returning in China, India, Brazil

* Shares down as much as 2.5 pct (Adds stock action, CEO quote, byline)

By Scott Malone

BOSTON, Nov 9 (Reuters) - Rockwell Automation Inc (ROK.N) said quarterly earnings plummeted 77 percent, as a lingering economic downturn prompted its industrial customers to hold off on purchasing systems that help factories run more smoothly.

The company set its initial fiscal 2010 profit forecast in a wide range that called for anything from an 11 percent rebound to a 19 percent drop.

"At this point, we would characterize business conditions as stable, but at demand levels well below the peak of the cycle," Chief Executive Officer Keith Nosbusch told analysts on a conference call on Monday. "We expect a recovery, but no one knows what the shape of the recovery will be."