Eaton price target raised to $250 from $195 at Argus

Argus analyst John Eade raised the firm’s price target on Eaton to $250 from $195 and keeps a Buy rating on the shares after its Q2 earnings beat. The company looks well positioned to deliver high single-digit EPS growth over the long term, driven by margin improvement, share buybacks, and modest top-line growth, the analyst tells investors in a research note. Eaton’s balance sheet also looks healthy and the company has a record of steady dividend growth, the firm adds.