Eaton initiated with an Outperform at BMO Capital

BMO Capital initiated coverage of Eaton (ETN) with an Outperform rating and $428 price target The firm views Eaton as a “premier data center and power management play.” Eaton has exposure to utilities, infrastructure spending and long-cycle aerospace and defense, the analyst tells investors in a research note. BMO says the company’s mix should continue to improve with the recent Boyd acquisition.