Eaton shares may be a bargain: Barron's

1/06/2008 - 23:50

NEW YORK (Reuters) - Shares of diversified manufacturer Eaton Corp may be a bargain, as the company has smartly diversified its offerings and been focusing on energy-efficient products that help its customer base, financial weekly Barron's reported in its June 2 edition.

The company has one of the lowest price-to-earnings ratios in its industry, and also has one of the highest growth rates, Barron's said.

Eli Lustgarten, an analyst at Longbow Securities in Cleveland told Barron's the stock is "by far one of the cheaper industrial stocks." Lustgarten has a price target of $117 on the stock, Barron's said.

Eaton shares closed at $96.68 on the New York Stock Exchange on Friday.

(Reporting by Emily Chasan; Editing by Tim Dobbyn)

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