UPDATE: Oppenheimer Reiterates Outperform Rating, Raises PT on Eaton Corporation Following Analyst Meeting

In a report published Wednesday, Oppenheimer analyst Christopher Glynn reiterated an Outperform rating on Eaton Corporation ETN, and raised the price target from $69.00 to $76.00. In the report, Oppenheimer noted, “We attended ETN's Analyst Meeting conducted in Houston, TX, at the Eaton Experience Center, a 40,000-square-foot facility designed for industry-specific education and hands-on demonstration of Eaton's electrical technology. The day focused on ETN's now massive scale serving global electrical markets and the opportunities for leveraging that scale to deepen partnerships with various channels and end users, by creating pull-through opportunities from ‘anchor brands.' In this effort, we note a differentiated asset in ETN's global deployment of ‘thousands of relationship managers,' sales engineers, and design specialists.” Eaton Corporation closed on Tuesday at $68.23.