Wolfe Research analyst Nigel Coe upgraded Eaton (ETN) to Outperform from Peer Perform with a $413 price target The firm expects 2026 to bring benefits from the company’s electrical backlog conversion and easing cyclical tailwinds. Eaton faces “trough conditions” in its cyclical business while the shares are trading at more attractive valuation levels, the analyst tells investors in a research note. Wolfe sees scope for continued organic “outgrowth” relative to its coverage, which it believes supports a premium valuation.
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