Eaton (ETN) Guidance 'Noisy' but Positive Thesis Intact, Says Analyst
Tweet Send to a FriendGet Alerts ETN Hot Sheet
Price: $64.70 --0%
Rating Summary:
13 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 10 | New: 19
Rating Summary:
13 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 10 | New: 19
Trade ETN Now!
Yesterday Eaton Corp. (NYSE: ETN) reported Q4 EPS of $0.82, $0.11 worse than the analyst estimate of $0.93. Revenue for the quarter came in at $4.33 billion versus the consensus estimate of $4.25 billion. It also provided outlook for Q1 and FY13.
Commenting on the news, analyst David Harris of MKM said, "While the 4Q12 release contained plenty of moving pieces and guidance was noisy around a 2H recovery and acquisition accounting, we believe the long-term thesis remains intact and supports the in-process rerating on ETN's valuation."
Harris thinks the company's March 1 analyst day will create the next catalyst, and he expects management to provide an update on the Cooper integration process, which he thinks has gone favorably.
MKM Partners reiterated a Buy rating on Eaton Corporation and raised its price target to $70.00 (from $61.00).
For an analyst ratings summary and ratings history on Eaton Corporation (NYSE: ETN) click here. For more ratings news on Eaton Corporation click here.
Shares of Eaton Corporation closed at $59.37 yesterday, with a 52 week range of $36.38-$60.45.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Commenting on the news, analyst David Harris of MKM said, "While the 4Q12 release contained plenty of moving pieces and guidance was noisy around a 2H recovery and acquisition accounting, we believe the long-term thesis remains intact and supports the in-process rerating on ETN's valuation."
Harris thinks the company's March 1 analyst day will create the next catalyst, and he expects management to provide an update on the Cooper integration process, which he thinks has gone favorably.
MKM Partners reiterated a Buy rating on Eaton Corporation and raised its price target to $70.00 (from $61.00).
For an analyst ratings summary and ratings history on Eaton Corporation (NYSE: ETN) click here. For more ratings news on Eaton Corporation click here.
Shares of Eaton Corporation closed at $59.37 yesterday, with a 52 week range of $36.38-$60.45.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- UPDATE: BofA/Merrill Lynch Downgrades Cliffs Natural Resources (CLF) to Underperform
- Lazard Raises PT on Chicago Bridge & Iron (CBI) to $75
- JPMorgan Downgrades FedEx (FDX) to Neutral
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS View, Analyst PT Change
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
