Oppenheimer Believes Eaton (NYSE: ETN) Still Has Room to Grow

In a report released yesterday, Christopher Glynn from Oppenheimer assigned a Buy rating to Eaton (ETNResearch Report), with a price target of $160.00. The company’s shares closed last Monday at $147.42, close to its 52-week high of $148.34.

According to TipRanks.com, Glynn is a 5-star analyst with an average return of 20.4% and a 68.7% success rate. Glynn covers the Industrial Goods sector, focusing on stocks such as Emerson Electric Company, Honeywell International, and Wesco International.

Currently, the analyst consensus on Eaton is a Moderate Buy with an average price target of $154.73, which is a 4.5% upside from current levels. In a report issued on May 5, Morgan Stanley also maintained a Buy rating on the stock with a $164.00 price target.

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The company has a one-year high of $148.34 and a one-year low of $70.54. Currently, Eaton has an average volume of 2.2M.

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Eaton Corporation plc is a diversified power management company. It provides electrical and industrial components, wiring devices, residential, fire detection, lighting products., It also engages in designing and manufacturing power train systems and other components for commercial vehicle markets. The company also provides aerospace fuel, hydraulics and pneumatic systems for military and commercial use.