Wells Fargo Downgrades Cooper Industries (CBE) to Market Perform; Eaton (ETN) Deal on Track

June 28, 2012 7:33 AM EDT
Get Alerts CBE Hot Sheet
Price: $74.50 --0%

Rating Summary:
    3 Buy, 14 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 13 | Down: 22 | New: 54
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Wells Fargo downgraded Cooper Industries (NYSE: CBE) from Outperform to Market Perform with a price target range $68-72 from $70-74.

Analyst, Richard M. Kwas, said, "On May 21, Eaton (NYSE: ETN) announced that it
would acquire CBE for $72/share in a combined cash/stock transaction and form a new company called Eaton Global Corporation plc. The transaction is expected to close in calendar Q4."

For an analyst ratings summary and ratings history on Cooper Industries click here. For more ratings news on Cooper Industries click here.

Shares of Cooper Industries closed at $66.50 yesterday.

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