UPDATE: Correction - Jefferies Downgrades Eaton Corporation (ETN) to Hold; Moderated NAFTA Truck Forecast
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Price: $420.18 -1.06%
Rating Summary:
30 Buy, 15 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 9 | Down: 12 | New: 19
Rating Summary:
30 Buy, 15 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 9 | Down: 12 | New: 19
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(Updated - July 18, 2012 7:48 AM EDT)
Correction - Jefferies downgrades Eaton Corporation (NYSE: ETN) from Buy to Hold with a price target of $40.00 (from $60.00).
Analyst, Stephen Volkmann, said, "Downgrading due to 1) a slower European electrical outlook; 2) a lower N.A. truck forecast; and 3) larger currency headwinds. While we like the pending acquisition of Cooper Industries (NYSE: CBE)(Not Covered) we believe the shares are probably range bound as we await closure near year end."
"We are trimming our estimates based on a weaker European outlook (mostly
electrical) as well as a moderated NAFTA truck forecast (275k vs. 285k for 2012)." (FY12 EPS estimate lowered from $4.50 to $4.10 and FY13 from $5.15 to $4.70)
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 $38.37 yesterday.
Correction - Jefferies downgrades Eaton Corporation (NYSE: ETN) from Buy to Hold with a price target of $40.00 (from $60.00).
Analyst, Stephen Volkmann, said, "Downgrading due to 1) a slower European electrical outlook; 2) a lower N.A. truck forecast; and 3) larger currency headwinds. While we like the pending acquisition of Cooper Industries (NYSE: CBE)(Not Covered) we believe the shares are probably range bound as we await closure near year end."
"We are trimming our estimates based on a weaker European outlook (mostly
electrical) as well as a moderated NAFTA truck forecast (275k vs. 285k for 2012)." (FY12 EPS estimate lowered from $4.50 to $4.10 and FY13 from $5.15 to $4.70)
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 $38.37 yesterday.
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