Jefferies Reinstates Eaton Corporation (ETN) at Buy

Jefferies analyst Stephen Volkmann reinstates coverage on Eaton Corporation (NYSE: ETN) with a Buy rating and a price target of $430.00.

The analyst comments: "With the completion of the Boyd Thermal acquisition we reinstate our BUY rating and establish a price target of $430 (~24x '26 EV/EBITDA). We have revised our estimates to reflect current guidance noting minimal earnings dilution once Boyd is factored in.

The completion of the Boyd Thermal acquisition enhances ETN's data center offering with a suite of thermal management and engineered products that include Coolant Distribution Units (CDUs), chillers, cold plates and heat exchangers. With an expected revenue stream of $1.7bn for 2026, nearly 90% data center derived. With the addition of Boyd the company now estimates capturing ~$3mn in sales opportunity per MW installed (Boyd adding $500k to the equation)."

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 $355.40 yesterday.

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