Is Eaton Corporation (ETN) One of the Best Industrial Stocks to Buy?

Eaton Corporation plc (NYSE:ETN) is one of the best industrial stocks to buy. On November 7, Wells Fargo analyst Joe O’Dea maintained a Hold recommendation on Eaton Corp, along with a price target of $395.

Separately, a Reuters report dated November 4 revealed that Eaton plans to purchase Boyd Corporation’s thermal business from Goldman Sachs Asset Management in a $9.5 billion deal. This will be the company’s fourth transaction this year in a bid to strengthen its data center capacity and meet the expanding AI demand. Regarding this deal, Reuters quoted RBC Capital Markets’ analyst Deane Dray, who said:

“What is impressive to us is that Eaton has gone “all-in” in liquid cooling with this chunky deal size, rather than dipping its toe in with a small investment like the other players have done.”

Eaton mentioned that anticipated sales for Boyd Thermal in 2026 amount to $1.7 billion, most of which will be generated from the liquid cooling technology employed at data centers. This transaction value reflects 22.5x Boyd’s estimated EBITDA for 2026. The Boyd acquisition is projected to conclude in Q2 2026, and it would strengthen Eaton’s adjusted earnings starting in the second year after closing the transaction. After the sale to Eaton, Goldman Sachs will continue to support Boyd’s engineered materials business.

Eaton CEO Paulo Ruiz commented:

“Our combined expertise in both power and liquid cooling from the chip to the grid will enable customers to manage increasing power demands more effectively,”

Eaton Corporation plc (NYSE:ETN) is based in Dublin, Ireland. The global power management company operates via Electrical Americas, Electrical Global, Aerospace, Vehicle, and eMobility segments.

While we acknowledge the risk and potential of ETN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than ETN and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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