Morgan Stanley Sees Eaton plc Adding Spark To The Hydraulics Market
In a report published Thursday, Morgan Stanley analyst Nigel Coe reiterated an Overweight rating and $89.00 price target on Eaton plc (NYSE: ETN).
In the report, Morgan Stanley noted, “Our key take from ETN's Hydraulics day is that its broad electrical and electronic capabilities will become an increasing competitive wedge in a world of more distributed machine intelligence. No update on trends, but we continue to view 3% Hydraulics market growth rate in 2014 as a low bar.”
Eaton plc closed on Wednesday at $72.50.
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