In a report published Tuesday, Morgan Stanley analyst Nigel Coe reiterated an Overweight rating on Eaton Corp PLC ETN, but lowered the price target from $86.00 to $80.00.
In the report, Morgan Stanley noted, “We lower our ETN target price from $86 to $80 as we reset our expectations into a guidance range of $4.80-5.20 for 2015 vs. $5.32 consensus. But following the recent sell-off, upside is still attractive, as is the 3% dividend yield. Reiterate OW.”
Eaton Corp PLC closed on Monday at $64.69.
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