Eaton price target raised to $246 from $220 at RBC Capital

RBC Capital raised the firm’s price target on Eaton to $246 from $220 and keeps a Sector Perform rating on the shares after its Q4 earnings beat and guidance. Electrical America’s segment grew a robust 16%, marking eight consecutive quarters of double-digit growth and underpinning the total organic growth of 10%, while the Backlog at Electrical and Aerospace continued to grow on reindustrialization / re-shoring and electrification megaprojects, the analyst tells investors in a research note.