Wells Fargo analyst Joseph O’Dea lowered the firm’s price target on Eaton (ETN) to $305 from $335 and keeps an Equal Weight rating on the shares. The firm thinks expectations are for a strong 5-year growth outlook next week, and doesn’t anticipate a negative surprise. Building confidence in sustained new demand and margin strength is key, though shaking AI basket trade influences could be tough, Wells adds.
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Read More on ETN:
- Eaton price target lowered to $325 from $353 at Barclays
- Eaton increases quarterly dividend by 11% to $1.04 per share
- Eaton call volume above normal and directionally bullish
- Eaton’s Promising Growth Backed by US Reshoring and Industrial Mega-Themes: A Buy Recommendation
- Eaton price target lowered to $405 from $407 at RBC Capital
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