Eaton valuation range raised to $70-$73 from $60-$63 at Wells Fargo Wells Fargo increased its valuation range on Eaton after the company reported higher than expected adjusted Q4 EPS . The firm expects the company's earnings power to increase throughout 2013, driven partly by improving demand trends. The firm maintains an Outperform rating on the stock.
Eaton increases three-year restructuring program to $400M The company announced that it increased its three-year restructuring program, bringing the 2015 through 2017 program to a total cost of $400M, with mature year savings estimated at approximately a similar amount. Expects to continue to deploy the bulk of excess funds to share repurchases, resulting in anticipated repurchases totaling approximately $3B from 2015 through 2018.