UPDATE: Morgan Stanley Reiterates on Eaton Following Company Investor Day
In a report published Monday, Morgan Stanley analyst Nigel Coe reiterated an Overweight rating on Eaton (NYSE: ETN), and raised the price target from $86.00 to $90.00.
In the report, Morgan Stanley noted, “One of the most compelling aspects of the ETN story is its superior FCF outlook and mgmt is confident in sustaining 110-120% conversion. We agree & highlight that ETN trades at a 15% discount on 2014 Cash P/E, despite 15-20% EPS growth potential. Reiterate OW vs. $90 PT (raised from $86).”
Eaton closed on Friday at $74.71.
Latest Ratings for ETN
|Oct 2016||HSBC||Initiates Coverage on||Buy|
|Sep 2016||KeyBanc||Downgrades||Overweight||Sector Weight|
|Aug 2016||Argus Research||Upgrades||Hold||Buy|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.