On August 12, Eaton Corp PLC rose 3.23% in pre-market trading, trading at $472.95/share, with turnover of $1.4019 million.

On the news front, multiple Wall Street firms raised their price targets on the stock. Evercore ISI lifted its target from $502 to $515 while maintaining an Outperform rating, and RBC Capital Markets raised its target from $484 to $512, citing sustained data center business growth potential. According to FactSet, Eaton currently holds an average Overweight rating with a mean target price of $486.27.

The bullish sentiment follows strong Q2 results reported on July 31, where Eaton posted adjusted EPS of $3.15, beating the consensus estimate of $3.07, on revenue of $8.53 billion versus expectations of $8.16 billion. The company raised full-year EPS guidance to $13.40-$13.60. RBC highlighted Q2 data center sales surging 65%, supported by a $15 billion backlog in its North American electrical segment and 85% growth in data center orders.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)