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In a report published Thursday, Morgan Stanley analyst Nigel Coe reiterated an Overweight rating and $89.00 price target on
Eaton Corp PLCETN.
In the report, Morgan Stanley noted, “The long running Eaton anti-trust case with Meritor (MTOR, covered by Ravi Shanker) is reaching a critical period with the Delaware District Court currently conducting pre-hearing arguments with an 8-day damages trial set to commence on 23 June. MTOR-ZF's expert witness is claiming economic damages in the range of $475-800m. Note that anti-trust damages are automatically trebled, i.e. MTOR is asserting a claim for $1.4-2.4bn vs. ETN.”
Eaton Corp PLC closed on Wednesday at $73.38.
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