Market Overview

UPDATE: Morgan Stanley Reiterates on Eaton Following Company Investor Day

Share:
Related ETN
Benzinga's Top Upgrades, Downgrades For April 4, 2017
Watch These 10 Huge Call Purchases In Thursday Trade

In a report published Monday, Morgan Stanley analyst Nigel Coe reiterated an Overweight rating on Eaton (NYSE: ETN), and raised the price target from $86.00 to $90.00.

In the report, Morgan Stanley noted, “One of the most compelling aspects of the ETN story is its superior FCF outlook and mgmt is confident in sustaining 110-120% conversion. We agree & highlight that ETN trades at a 15% discount on 2014 Cash P/E, despite 15-20% EPS growth potential. Reiterate OW vs. $90 PT (raised from $86).”

Eaton closed on Friday at $74.71.

Latest Ratings for ETN

DateFirmActionFromTo
Apr 2017Longbow ResearchUpgradesNeutralBuy
Feb 2017JP MorganDowngradesOverweightNeutral
Jan 2017Vertical ResearchDowngradesBuyHold

View More Analyst Ratings for ETN
View the Latest Analyst Ratings

Posted-In: Morgan Stanley Nigel CoeAnalyst Color Price Target Analyst Ratings

 

Related Articles (ETN)

View Comments and Join the Discussion!