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Eaton Corp’s Target Cut at UBS on Macroeconomic Uncertainty (ETN)

By Dividend.com,  June 22, 2012, 09:18:15 AM EDT

Power management specialist Eaton Corporation ( ETN ) on Friday caught some tepid commentary from analysts at UBS.

The firm maintained its "Neutral" rating on ETN but cut its price target to $40. That new target suggests a smaller 6% upside to the stock's Thursday closing price of $37.78.

UBS noted it's gotten more cautious on the stock due to macroeconomic uncertainty, and earnings risks that could result from an economic slowdown.

Eaton Corp shares rose 67 cents, or +1.8%, in premarket trading Friday.

The Bottom Line
Shares of Eaton Corp ( ETN ) have a 4.02% dividend yield, based on last night's closing stock price of $37.78. The stock has technical support in the $34-$35 price area. If the shares can firm up, we see overhead resistance around the $42-$45 price levels.

Eaton Corporation ( ETN ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 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 .




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: ETN



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