With a short percentage of shares outstanding of 2.37%, Eaton Corporation plc (NYSE:ETN) is among the 7 Best Electrical Contracting Stocks to Buy for Data Hall Fit-outs.
On May 11, Alexander Virgo, analyst of Evercore ISI raised the firm’s price target on Eaton Corporation plc (NYSE:ETN) to $453 from $407 while maintaining an In Line rating on the shares
The revised target reflects growing confidence in the company’s operational performance and long-term growth prospects. On May 6, Andrew Kaplowitz, analyst of Citi raised the firm’s price target on Eaton Corporation plc (NYSE:ETN) to $471 from $464 and reiterated a Buy rating on the stock, citing the company’s robust order activity and backlog, which provide strong revenue visibility. On the same day, JPMorgan raised its price target on Eaton to $445 from $406 while maintaining an Overweight rating following the company’s first-quarter results and updated financial model.
Founded in 1911 and headquartered in Dublin, Ireland, Eaton Corporation plc (NYSE:ETN) outfits data centers by providing mission-critical power distribution systems, uninterruptible power supplies (UPS), thermal/liquid-cooling technologies, and energy-management software to ensure resilient, efficient, and rapid-deployment IT infrastructure. While we acknowledge the potential of ETN as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.