Eaton Turns In a Solid 3Q Performance
Narrow-moat Eaton had a solid third quarter, but our long-term fundamental outlook remains the same. We are, however, raising our fair value estimate to $80 from $79 because of the time value of money. We’ve also made some slight adjustments to our full-year 2018 forecast based on both recent performance and management’s updated guidance, but the net effect of these puts and takes more or less canceled out one another. For example, the electrical products and hydraulics segments have slightly un...
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