Eaton litigation with Meritor remains an overhang, says JPMorgan JPMorgan says Eaton's (ETN) litigation with Meritor (MTOR) remains an overhang on the stock. The firm says visibility into the outcome should improve in the coming weeks as legal proceedings pick up. JPMorgan believes expectations have been reset for Eaton following the company's Q2 results and it reiterates an Overweight rating on the name with an $85 price target.
Meritor downgraded to Equal Weight from Overweight at Barclays Barclays downgraded Meritor to Equal Weight saying currency headwinds and soft Brazil truck trends put consensus estimates at risk. The firm cut its price target for shares to $15 from $17.