On September 22, Eaton Corp PLC rose 3.02% in regular trading, trading at $437.8 USD/share, with turnover of $326 million. The stock continues to rally on a convergence of positive catalysts that have been building over recent weeks.
On the analyst front, UBS upgraded Eaton from neutral to buy on September 8, raising its price target from $450 to $515, projecting a 46% increase in earnings power over the next two years and modeling 18% annual EPS growth through 2028. Data center revenue is expected to drive continued strong double-digit organic growth. Morgan Stanley, Argus, and Evercore ISI have also raised their price targets to $520, $528, and $515 respectively.
On the operational front, Eaton announced an investment of over $242 million to build a new facility in Arkansas, doubling US customized electrical enclosure capacity and adding over 1,200 jobs. The company also launched its IZM9G series next-generation air circuit breaker targeting AI data centers and critical infrastructure, and partnered with Autodesk to streamline commercial building electrical system delivery.
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