MKM Partners Lifts PT on Eaton (ETN) to $75
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Price: $65.84 --0%
Rating Summary:
13 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 4 | Down: 5 | New: 6
Rating Summary:
13 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 4 | Down: 5 | New: 6
Trade ETN Now!
MKM Partners bumped its price target on Eaton Corporation (NYSE: ETN) from $70 to $75 while reiterating a Buy rating.
The analyst comments: " ETN is one of the more notable consensus longs on our list. However, out-year consensus remains too low, in our view, if non-residential continues to recover and NAFTA truck ever rebounds. The case for multiple expansion on the beefed-up electrical portfolio looks solid, given positive early reads on the synergy capture with Cooper. Portfolio optionality remains too ambitious for management to direct investors’ attention, but we believe a Vehicle spin remains a possibility down the road and part of the bull case. With the long-term thesis backed up by solid near-term demand trends, it appears to us that consensus is still on the right side of ETN."
For an analyst ratings summary and ratings history on Eaton Corporation click here. For more ratings news on Eaton Corporation click here.
Shares of Eaton Corporation closed at $62.66 yesterday, with a 52 week range of $36.38-$63.63.
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The analyst comments: " ETN is one of the more notable consensus longs on our list. However, out-year consensus remains too low, in our view, if non-residential continues to recover and NAFTA truck ever rebounds. The case for multiple expansion on the beefed-up electrical portfolio looks solid, given positive early reads on the synergy capture with Cooper. Portfolio optionality remains too ambitious for management to direct investors’ attention, but we believe a Vehicle spin remains a possibility down the road and part of the bull case. With the long-term thesis backed up by solid near-term demand trends, it appears to us that consensus is still on the right side of ETN."
For an analyst ratings summary and ratings history on Eaton Corporation click here. For more ratings news on Eaton Corporation click here.
Shares of Eaton Corporation closed at $62.66 yesterday, with a 52 week range of $36.38-$63.63.
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