UPDATE: Credit Suisse Reiterates Outperform Rating, Raises PT on Eaton Corporation on Positive Outlook

In a report published Monday, Credit Suisse analyst Julian Mitchell reiterated an Outperform rating on

, and raised the price target from $72.00 to $75.00. In the report, Credit Suisse noted, “In April, ETN end-market commentary was more positive than industrial peers and macro data; this disconnect has inverted, such that other industrial peers and macro data are more positive, and ETN is now more cautious – just as sending the shares up in April based on that disconnect alone was a little odd, similarly sending them down hard after Q2 seems strange. The right time to be skeptical of ETN's organic sales growth guide was back in Q1 / April rather than now, after three consecutive quarters of organic sales declines, and when many short-cycle industrial datapoints (bottom-up as well as macro) are improving.” Eaton Corporation closed on Friday at $65.89.