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Goldman Sachs lowered the firm’s price target on Eaton (ETN) to $354 from $407 and keeps a Neutral rating on the shares. Following the company’s Investor Day presentation, the company has a greater appreciation for Paulo Ruiz’s strategy for long-term value creation, the analyst tells investors in a research note. The messaging has remained consistent in the transition, but it was clear that the new management team believes there are opportunities for the organization to more holistically adopt a rapid growth mindset and improve the operational performance of the company, the firm adds, also noting that Eaton is one of the best positioned Multis to benefit from secular Mega trends.
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