Barclays Tweaks Estimates & PT on Eaton Corporation (ETN); Solid Margins Despite Choppiness

Barclays maintains an 'Overweight' on Eaton Corporation (NYSE: ETN) price target of $58.00 (from $59.00).

Analyst, Andy Kaplowitz, said, "We view ETN's 2Q12 results as generally in line with our expectations, with ETN's diversified business model generally holding up well despite some slower end markets/geographies and significant F/X headwinds. We think ETN's strong margins were the highlight of the quarter...With ETN now trading at 8.5x our 2013 estimate, we continue to view the shares as offering good risk/reward."

Kaplowitz lowers FY12 EPS estimate from $4.30 to $4.25 and FY13 from $4.90 to $4.80.

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 $40.57 yesterday.

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