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Fly News Breaks for March 3, 2020
ETN
Mar 3, 2020 | 06:34 EDT
KeyBanc analyst Jeffrey Hammond upgraded Eaton to Overweight from Sector Weight with a $108 price target following the company's Analyst Day. In a research note to investors, Hammond says he believes recent portfolio moves are supportive of multiple expansion, while coronavirus related weakness presents a compelling entry point. In addition, he views downside earnings risk as protected by a sizable buyback plan for 2020, highlighting the company's unique and increasingly valuable cash optionality.
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