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Fly News Breaks for December 17, 2019
Dec 17, 2019 | 09:45 EDT
As previously reported, BofA/Merrill analyst Andrew Obin upgraded Eaton (ETN), Parker-Hannifin (PH) and Colfax (CFX), all to Buy from Neutral, and double upgraded Rexnord (RXN) to Buy from Underperform as he shuffled his ratings in the Multi-Industry sector. The impacts of tariffs, trade tensions, and decelerating global industrial production should fade in 2020, while the United States-Mexico-Canada Agreement will clear the way for possible reshoring of supply chains to North America, contends Obin. His changes in sector ratings reflects a bias towards stocks with cyclical EPS recovery potential and "strong execution," the analyst added.
News For ETN;PH;CFX;RXN From the Last 2 Days
Jul 21, 2021 | 06:48 EDT
Eaton's sale of the company's Hydraulics business to Danfoss A/S has been approved by the U.S. District Court for the District of Columbia. The company now has all the regulatory approvals it needs to close the transaction. Eaton currently expects the sale to close August 2.