Eaton price target raised to $410 from $350 at BofA

BofA raised the firm’s price target on Eaton (ETN) to $410 from $350 and keeps a Buy rating on the shares after having met with Heath Monesmith, President and Chief Operating Officer, Electrical Sector, and Chip Walker, Vice President, Investor Relations. The firm has raised its 2024, 2025, and 2026 estimates to reflect confidence in the company’s margin trajectory and growth prospects in Electrical, particularly as capacity comes online, the analyst noted.