TLDR:
Wall Street praises Eaton’s AI bona fides. But don’t overlook our other data center play.
- U.S. stocks rose on Friday after inflation eased in May.
- Raymond James initiated coverage of Eaton with a buy-equivalent rating, with a price target of $375 per share.
Key Elements of the Article:
Wall Street is praising Eaton’s AI capabilities, with analysts issuing a buy-equivalent rating with a price target of $375 per share. The company’s exposure to data centers and aerospace is expected to drive strong organic growth through 2025. Jim Cramer agrees with this assessment and also highlights Dover as another high-quality data center play in the market. Apple has launched its Vision Pro spatial computing headset in key markets, aiming for enterprise use cases, although investor expectations should be tempered for now. The article also discusses the market performance at the end of the first half of 2024 and factors influencing stock movements.