UPDATE: Berenberg Upgrades Eaton Corporation (ETN) to Buy

March 8, 2021 4:32 AM EST
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Price: $141.40 -0.08%

Rating Summary:
    21 Buy, 15 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 10 | New: 17
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(Updated - March 8, 2021 5:33 AM EST)

Berenberg analyst Philip Buller upgraded Eaton Corporation (NYSE: ETN) from Hold to Buy with a price target of $160.00.

The analyst comments "In hindsight, we should have been more constructive on Eaton when initiating six months ago; we were being too cautious from a timing standpoint on the basis that: 1) the shares had performed in line with electrical peers despite having aerospace exposure; and 2) the important M&A roll-up strategy might stall given market uncertainties. Alas, the “better entry point” we hoped for has not materialised – and nor will it, in our view. We upgrade to Buy."

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 $137.39 yesterday.

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