Deutsche Bank Downgrades Cooper Industries (CBE) to Hold; Valuation Resistance Dims Upside Potential

Deutsche Bank downgraded Cooper Industries (NYSE: CBE) to Hold. PT $69,

Deutsche analyst says, "There is no question that CBE fits well into our affinity for "Stage-2" cyclical recovery stories given high leverage to Utility and Construction end markets, where recovery is not expected to gain traction until late-2011/early-2012. However, we believe that this is being fully reflected in the company's significant premium to the sector - CBE trades at 13.9x 2012e EPS, an 8% premium."

For more ratings news on Cooper Industries click here and for the rating history of Cooper Industries click here.

Shares of Cooper Industries closed at $64.73 yesterday.

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