Barclays Sees Eaton (ETN) as “Battleground” While Jefferies Initiates Buy

Eaton Corporation plc (NYSE:ETN) is included among the 14 High Growth Dividend Paying Stocks to Invest in Now.

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On March 16, Barclays analyst Julian Mitchell raised the firm’s price recommendation on Eaton Corporation plc (NYSE:ETN) to $354 from $350. It also reiterated an Equal Weight rating on the shares. The firm updated its model following the closing of the Boyd deal. It expects Eaton to remain a “battleground” stock for investors in the near term.

That same day, Jefferies reinstated coverage of Eaton with a Buy rating and a $430 price target after the Boyd Thermal acquisition was completed. The analyst said the deal strengthens Eaton’s data center offering by adding thermal management and engineered products, according to a research note.

Earlier, on March 12, the company confirmed it had completed the acquisition of the Boyd Thermal business from Boyd Corporation, which was owned by Goldman Sachs Asset Management. Boyd Thermal focuses on thermal components, systems, and ruggedized solutions used in data centers, aerospace, and other markets. The business is based in the U.S. and employs more than 6,000 people, with manufacturing operations across North America, Asia, and Europe. It began as an industrial fabricator in 1928 and later built a long track record as a supplier of thermal management solutions in aerospace. Today, it serves data centers, industrial, aerospace, and other end markets.

Eaton Corporation plc (NYSE:ETN) operates as an intelligent power management company. Its Electrical Americas segment includes electrical components, industrial components, power distribution systems and assemblies, residential products, circuit protection, utility power distribution, and wiring devices, among other offerings.

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