Eaton upgraded to Peer Perform from Underperform at Wolfe Research

Wolfe Research analyst Nigel Coe upgraded Eaton to Peer Perform from Underperform without a price target. Over the past five months, Eaton’s “extreme” valuation metric has “reverted back to more rational levels,” the analyst tells investors in a research note. The firm continues to see the path to “significant” 2025 outgrowth for the company, supported by “impressive backlog build.” Wolfe believes the stock’s risk/reward is now in much better balance.