Goldman Sachs Neutral On Cooper Industries

Goldman Sachs is out with a research report on Cooper Industries Plc CBE and it has a Neutral rating and a $58 price target on shares. In a note to clients, Goldman Sachs writes, "We maintain our Neutral rating and $58, 12-month target price (13X 2012E P/E) but lower our 3Q EPS estimate to $0.98 (low end of guidance) from $1.03 on lower organic revenue growth . Our 2011 estimate is lowered to $3.83 from $3.88, with 4Q unchanged and still below consensus and the low end of implied guidance. Our 2012-2013 estimates are unchanged." Shares of CBE gained 3 cents yesterday to close at $41.75.