- Analysts updated the price target for Eaton Corp PLC (NYSE:ETN) after Q4 results.
- Baird analyst Mircea Dobre lowered the price target to $167 from $177 and maintained a Neutral rating on the shares.
- The analyst said its recent shortfall was due to supply chain disruptions and, with current guidance, detects conservativism in Electrical given strong order intake.
- Dobre said he would look to get more aggressive as he gains comfort with its ability to ramp its production and boost earnings relative to peers.
- Related: Eaton Reports 6% Organic Sales Growth In Q4, Provides FY22 Guidance
- Barclays analyst Julian Mitchell lowered the price target to $162 (an upside of 7.3%) from $170 and maintained an Equal Weight rating on the shares following the Q4 results.
- The guidance Eaton issued "looked sensible, and the degree of back end loading in 2022 is no worse than what we were expecting," mentioned Mitchell.
- Mizuho analyst Brett Linzey lowered the price target to $195 (an upside of 29.2%) from $200 and maintained a Buy rating on the shares.
- The company posted a modest Q4 operational beat, and its supply chain issues should ease to some extent throughout the fiscal year, states Linzey.
- Wells Fargo analyst Joseph O'Dea lowered the price target to $165 from $180 and maintained an Equal Weight rating on the shares.
- Credit Suisse analyst John Walsh raised the price target to $186 (an upside of 23.2%) from $184 and maintained an Outperform rating on the shares.
- Price Action: ETN shares traded lower by 0.03% at $150.96 on the last check Monday.
