Oppenheimer Raises Price Target on Eaton Corp.; "Outperform" Rating (ETN)

Oppenheimer Raises Price Target on Eaton Corp.; “Outperform” Rating (ETN)

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Oppenheimer analyst raised its target on Eaton Corporation (ETN) on Tuesday due to an expectation of growth throughout the year.

The analysts now see shares of ETN reaching $63, suggesting a +13% upside to Monday’s closing price of $55.75. The firm maintains an “Outperform” rating or the power management specialist.

Eaton shares were flat in premarket trading on Tuesday. The stock is up +22.42% over the past year.

The Bottom Line
Shares of Eaton Corp (ETN) have a 2.73% dividend yield, based on last night’s closing stock price of $55.75. The stock has technical support in the $51-$52 price area. The shares are trading right near all-time highs.

Eaton Corporation (ETN) is not recommended at this time, holding a Dividend.com 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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