Analysts Are Downgrading These 5 Stocks

In this article, we discuss the 5 stocks receiving downgrades from analysts. If you want to see more such stocks on the list, go directly to Analysts Are Downgrading These 10 Stocks. 

05. Eaton Corporation plc (NYSE:ETN)

Number of Hedge Fund Holders: 55

Eaton Corporation plc (NYSE:ETN) is a power management company with a rich history of over 100 years. The company is headquartered in Dublin, Ireland. On July 11, Wolfe Research analyst Nigel Coe decided to downgrade Eaton Corp (NYSE:ETN) from an Outperform rating to a Peer Perform rating. This change indicates a shift in Coe’s perception of the company’s performance and prospects, suggesting that he no longer considers it an outperforming stock compared to its peers.

ClearBridge Large Cap Growth Strategy made the following comment about Eaton Corporation plc (NYSE:ETN) in its Q4 2022 investor letter:

“Also within the secular category, our asset-light industrials names have flexed their strength through the bear market. Eaton Corporation plc (NYSE:ETN) is positioned in the sweet spot of several secular trends: two-way electricity solutions, microgrids and charging infrastructure for electric vehicles. While the company’s housing business is susceptible to near-term weakness, we believe Eaton can grow revenues in the mid-to-high single digits for several decades as its core utility customers have the rate base to cover ongoing electric infrastructure upgrades and buildouts.”