Eaton price target raised to $350 from $290 at Argus

Argus raised the firm’s price target on Eaton to $350 from $290 and keeps a Buy rating on the shares after its Q1 earnings beat and guidance raise. The company looks poised to deliver high single-digit EPS growth over the long term, driven by margin improvement, share buybacks, and modest top-line growth, the analyst tells investors in a research note. Demand for Eaton’s products is recovering from both the pandemic and recent supply-chain pressures, Argus added.