RBC raises Eaton PT after Q1 earnings beat estimates

RBC Capital raise Price Target on power management co Eaton Corp ETN.N to $356 from $336, an upside of 19% to the stock's last close

Says strong backlog with 5-year supply agreements and yet-to-be-realized $1.8 trln of megaprojects in North America reaffirm the bull thesis

Brokerage states co's broad portfolio positioning in ongoing data center upcycle, which comprises 17% of revenue, access to next-gen architecture, modular solutions, and accretive acquisitions, fuel growth algorithm

RBC reiterates 'outperform' rating on co

Brokerage raises 2025 adj EPS forecast to $12 from $11.95

18 of 28 brokerages rate the stock "buy" or higher, 10 "hold"; their median PT is $348

As of last close, stock had fallen 9.7% YTD