RBC Capital upgraded Eaton to Outperform from Sector Perform with a price target of $371, up from $286. The analyst sees Eaton shares as the best large-cap way to play the current “electrical supercycle.” The firm’s bull case is based on “confidence in the array of multiyear secular drivers” powering megaprojects. It says Eaton has the sector’s best broad-based datacenter exposure.
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