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Fly News Breaks for February 5, 2020
ETN
Feb 5, 2020 | 06:45 EDT
Deutsche Bank analyst Nicole DeBlase upgraded Eaton to Buy from Hold with a price target of $115, up from $102. The company's newly initiated 2020 guidance embeds only 40 basis points of year-over-year margin expansion at the midpoint, DeBlase tells investors in a research note. The analyst admits to being nervous about the potential for Eaton's margin expansion to slow considerably in 2020 on the back of waning price/cost tailwinds. With consensus estimates recently declining to more realistic expectations, the analyst reverses her December downgrade and upgrades Eaton to Buy.
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