BUZZ-RBC raises Eaton PT after Q1 earnings beat estimates

Reuters
05-05
BUZZ-RBC raises Eaton PT after Q1 earnings beat estimates

** RBC Capital raise Price Target on power management co Eaton Corp ETN.N to $356 from $336, an upside of 19% to the stock's last close

** Says strong backlog with 5-year supply agreements and yet-to-be-realized $1.8 trln of megaprojects in North America reaffirm the bull thesis

** Brokerage states co's broad portfolio positioning in ongoing data center upcycle, which comprises 17% of revenue, access to next-gen architecture, modular solutions, and accretive acquisitions, fuel growth algorithm

** RBC reiterates 'outperform' rating on co

** Brokerage raises 2025 adj EPS forecast to $12 from $11.95

** 18 of 28 brokerages rate the stock "buy" or higher, 10 "hold"; their median PT is $348

** As of last close, stock had fallen 9.7% YTD

(Reporting by Apratim Sarkar)

((Apratim.Sarkar@thomsonreuters.com))

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