Morgan Stanley Tweaks Eaton Model For Updated Guidance

In a report published Monday, Morgan Stanley analyst Nigel Coe reiterated an Overweight rating and $90.00 price target on Eaton Corp PLC (NYSE: ETN).

In the report, Morgan Stanley noted, “ETN tightened its 2Q guidance range to slightly above the midpoint – in line with consensus but slightly below MSe. We have added more ballast to our ESS estimates by lowering 2Q/FY14 by 3c. Our 2015/16 estimates remain largely unchanged.”

Eaton closed on Friday at $78.57.