Oppenheimer Increases Eaton Corporation PLC Price Target to $78.00 (ETN)
Equities research analysts at Oppenheimer lifted their target price on shares of Eaton Corporation PLC (NYSE:ETN) from $73.00 to $78.00 in a research note issued to investors on Tuesday, Stock Ratings Network reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s price objective would suggest a potential upside of 12.25% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at Morgan Stanley upgraded shares of Eaton Corporation PLC (NYSE:ETN) from an “equal weight” rating to an “overweight” rating in a research note to investors on Monday, September 9th. They now have a $76.00 price target on the stock, up previously from $74.00. Separately, analysts at Sanford C. Bernstein raised their price target on shares of Eaton Corporation PLC (NYSE:ETN) from $76.00 to $79.00 in a research note to investors on Tuesday, August 13th. They now have an “outperform” rating on the stock. Finally, analysts at ISI Group downgraded shares of Eaton Corporation PLC (NYSE:ETN) from a “strong-buy” rating to a “buy” rating in a research note to investors on Friday, August 9th. They now have a $72.00 price target on the stock.
Five research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $71.14.
Shares of Eaton Corporation PLC (NYSE:ETN) traded up 1.12% during mid-day trading on Tuesday, hitting $70.27. The stock had a trading volume of 684,272 shares. Eaton Corporation PLC has a 52 week low of $44.36 and a 52 week high of $71.36. The stock’s 50-day moving average is $66.35 and its 200-day moving average is $64.62. The company has a market cap of $33.301 billion and a price-to-earnings ratio of 20.92.
Eaton Corporation PLC (NYSE:ETN) last posted its quarterly earnings results on Friday, August 2nd. The company reported $1.09 earnings per share for the quarter, missing the analysts’ consensus estimate of $1.11 by $0.02. The company had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.78 billion. During the same quarter last year, the company posted $1.15 earnings per share. Eaton Corporation PLC’s revenue was up 37.7% compared to the same quarter last year. Analysts expect that Eaton Corporation PLC will post $4.19 EPS for the current fiscal year.
Eaton Corporation (NYSE:ETN) is a diversified power management company.
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