Eaton price target lowered to $335 from $390 at Jefferies

Jefferies lowered the firm’s price target on Eaton (ETN) to $335 from $390 and keeps a Buy rating on the shares. Incoming CEO Paulo Ruiz provided 2030 targets at the 2025 investor day for a 6-9% annual revenue compound growth and 350-450 basis points in margin expansion, which implies about $22.00 in earnings at the mid-point, the analyst tells investors. Guidance “felt conservative relative to segment forecasts,” notes the analyst, who made no changes to the firm’s model, but trims the firm’s target to $335 on lower peer multiples.