Eaton price target raised to $250 from $220 at Barclays

Barclays raised the firm’s price target on Eaton to $250 from $220 and keeps an Underweight rating on the shares. The analyst increased estimates post the Q4 report. The firm thought declines in Electrical orders would weigh on the Eaton’s valuation multiple as earnings momentum started to slow. However, the ongoing positive estimate revision cycle that is driven by ongoing strong sales momentum has pushed the issue of orders moderation into the background, the analyst tells investors in a research note.