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Fly News Breaks for February 5, 2020
Feb 5, 2020 | 08:29 EDT
Oppenheimer analyst Christopher Glynn raised his price target for Eaton to $115 form $108 after the company delivered 7% 2019 EPS growth on flat organic sales, with segment margins up 80 bps to 17.6%. With vehicle downturn likely bottoming out in 2020, and Hydraulics exit expected by year-end, Eaton's steady progress on OM productivity, share repurchase, and bolt-on acquisitions phases into its next stages as a far less cyclical company, he contends. The analyst has an Outperform rating on the shares.