Deutsche Bank Discusses Eaton's Earnings (ETN)

Deutsche Bank has a research report on Eaton ETN after the company reported earnings. It has a Hold rating on shares. In a note to investors, Deutsche Bank writes, "Eaton raised FY guidance by 15c to a range of $3.70-4; this compares to DB at $3.90 and the street at $3.81 so the outlook certainly places an upside bias to street expectations. ETN has raised its end market outlook by 1ppt to 10% and we note particular strength in Hydraulics where bookings grew 39% during the quarter and ETN raised its end market outlook by 2ppts to 18%. 2Q guidance of 90-96c is bracketing the street estimate at 93c. The stock has certainly lagged into the quarter and there were some doubts that management would raise guidance given the bump-up in Feb. As such we would expect the stock to trade up today." Shares of ETN are up 39 cents to $53.02, a gain of 0.74% today.