Wells Fargo analyst Joseph O’Dea lowered the firm’s price target on Eaton (ETN) to $350 from $365 and keeps an Equal Weight rating on the shares. The firm thinks initial 2025 guidance in the space will drive negative revisions in consensus estimates. Recent dollar strength is a large driver of the headwind, Wells adds, noting that it believes currency pressure is largely appreciated, so initial guidance ranges below consensus shouldn’t come as a big surprise.
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