Goldman Sachs Resumes Coverage on Eaton Corp at “Buy” (ETN)

On Thursday, Goldman Sachs resumed coverage on Eaton Corporation (ETN), citing the recent acquisition of Cooper Industries as one reason for their bullish view of the electrical and hydraulic parts maker.

The analysts rate ETN as “Buy” and see shares reaching $78. This target suggests a 24% upside to Wednesday’s closing price of $62.68.

The firm also stated that Eaton’s cyclical businesses should help drive earnings above current views.

Eaton shares were inactive during pre-market trading on Thursday. The stock is up +25.52% over the past year.

The Bottom Line
Shares of Eaton Corp (ETN) have a dividend yield of 2.68% based on last night’s closing price of $62.68 and the company’s annualized dividend payout of $1.68 per share.

Eaton Corporation (ETN) is not recommended at this time, holding a DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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