Movement Alert|Eaton Corp PLC Rises 3.03% in Regular Trading, Evercore ISI Upgrades Rating to Outperform With Target Price Raised to $502

Market Focus08-03

On August 3, Eaton Corp PLC rose 3.03% in regular trading, trading at $428.77/share, with turnover of $277 million.

On the news front, Evercore ISI upgraded Eaton from \"In Line\" to \"Outperform\" and raised its price target significantly from $453 to $502. According to FactSet, Eaton currently carries an average analyst rating of \"Overweight\" with a mean price target of $476.50.

The upgrade comes on the heels of a strong Q2 earnings report released on July 31, in which Eaton posted adjusted EPS of $3.15, beating the consensus estimate of $3.07, while net sales of $8.53 billion surpassed the expected $8.16 billion, representing 21.3% year-over-year growth. The company simultaneously raised its full-year adjusted EPS guidance to $13.40-$13.60, above the prior range of $13.05-$13.50 and the analyst consensus of $13.35.

Within the Electrical Components & Equipment sector, Vertiv Holdings up 5.26%, Atkore Inc. up 28.1%, Rockwell Automation up 0.94%, nVent Electric up 4.04%, FuelCell down 1.74%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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