Oppenheimer Maintains an 'Outperform' on Eaton (ETN); Shifting Into Favor
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Price: $68.78 +1.04%
Rating Summary:
13 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 24 | New: 24
Rating Summary:
13 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 24 | New: 24
Trade ETN Now!
Oppenheimer maintains an 'Outperform' on Eaton Corporation (NYSE: ETN) price target of $54.00 (from $50.00).
Analyst, Christopher Glynn, said, "We believe the investment environment may continue to shift to favor shares of ETN. In our view, results of earnings season (including stock price reactions) serve to further the case that end markets are not imploding, but rather have settled into a slow to no growth global economy that is broadly settling into a pattern of overall stability (not an invigorating pattern to be sure, but distinctly better than fears into earnings). ETN shares typically underperform during periods of pronounced cyclical concerns ("risk-off"); thus, should sentiment continue to shift to favor the view of a global economy lacking much growth but stable, we would expect ETN's current earnings levels could well command greater appreciation and higher capitalization."
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 $43.84 yesterday, with a 52 week range of $33.09-$53.06.
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Analyst, Christopher Glynn, said, "We believe the investment environment may continue to shift to favor shares of ETN. In our view, results of earnings season (including stock price reactions) serve to further the case that end markets are not imploding, but rather have settled into a slow to no growth global economy that is broadly settling into a pattern of overall stability (not an invigorating pattern to be sure, but distinctly better than fears into earnings). ETN shares typically underperform during periods of pronounced cyclical concerns ("risk-off"); thus, should sentiment continue to shift to favor the view of a global economy lacking much growth but stable, we would expect ETN's current earnings levels could well command greater appreciation and higher capitalization."
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 $43.84 yesterday, with a 52 week range of $33.09-$53.06.
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