Eaton Poised for Strong Growth With Robust Backlog, Longer Order Lead Times, UBS Says

MT Newswires Live12-14

Eaton (ETN) has strong long-term growth prospects due to "robust backlog growth" and longer order lead times, UBS Securities said in a report emailed Friday.

"We think the company can sustain high single digit revenue growth for several years to come, driven by data center growth, electrification trends and reshoring of manufacturing capacity," UBS said, adding that the company's earnings are projected to reach $17 per share by 2028, with potential upside to $19, supported by strong backlog growth and a shift in revenue timing.

Order growth is expected to accelerate with increased industrial activity, a rebound in manufacturing spending from the second half of 2025, and the rise of AI-focused data centers, though most current orders are still driven by conventional data centers, UBS said.

Eaton has recently ramped up its buyback activity after several years of minimal action and is expected to repurchase nearly $14 billion in stock over the next four years, reducing its share count by almost 10%, UBS said.

UBS has a buy rating on Eaton with a price target of $431.

Price: 357.09, Change: -1.55, Percent Change: -0.43

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