RBC Capital analyst Deane Dray raised the firm’s price target on Eaton to $215 from $188 and keeps a Sector Perform rating on the shares. The company’s Q2 earnings marked an operating beat thanks to strong results in Electrical Americas, the analyst tells investors in a research note. Overall demand remains solid with Electrical and Aerospace book-to-bill both at 1.2-times and backlog hitting another record, RBC added.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on ETN: