BUZZ-Citi raises Eaton PT on 'strong confidence in earnings growth'

Reuters
07-14
BUZZ-Citi raises Eaton PT on 'strong confidence in earnings growth'

** Citi lifts electrical equipment maker Eaton Corp ETN.N PT to $420 from $351, a premium of 16.5% from the stock's last close

** Brokerage keeps rating unchanged at 'buy'

** Says reason behind lifting PT is driven by a higher 2026 P/E multiple and stronger confidence in earnings growth

** Also says co sees benefiting from long-term megatrends like electrification and data centers with strong organic growth, margin expansion, and recent acquisitions supporting double-digit EPS growth through 2027

** Shares marginally down at $360 in morning trade

** 19 of 29 brokerages rate the stock "buy" or higher, 10 "hold" ; their median PT is $371- data compiled by LSEG

** Including session moves, stocks are up 8.3% YTD

(Reporting by Apratim Sarkar)

((Apratim.Sarkar@thomsonreuters.com))

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