Follow-up: Eaton upgraded to Buy from Neutral at Buckingham Buckingham upgraded Eaton on expectations the company is positioned for above-peer revenue growth beginning later this year as its markets recover. The firm raised its price target for shares to $75 from $63. Note Eaton shares were downgraded this morning at Barclays.
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.