RBC Capital raised the firm’s price target on Eaton (ETN) to $425 from $405 and keeps an Outperform rating on the shares as part of a broader research note previewing Q3 earnings in Industrials space. Multiple multi-year sector drivers – like electrification, reshoring, and datacenter/AI – and a Fed ease cycle should fuel continued mid-cycle growth and strong earnings visibility, while tariffs remain a fluid but manageable headwind for now, the analyst tells investors in a research note. Datacenter remains the strongest vertical in the sector and muni water the steadiest, while residential construction, HVAC, and chemicals are the weakest end markets, the firm added.
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