Eaton Soars on Strong Demand and Positive Industry Outlook

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Eaton,Market Rally,Industrial Sector

Eaton stock surged on Friday, driven by a combination of a bullish analyst price target upgrade and positive signals from the manufacturing sector. The electrical equipment maker benefited from a broad market rally, with every sector showing gains on the day.

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Market movers: The S&P 500 was on pace to break its five-session losing streak. But even with Friday's strong gain, the index was still tracking to be slightly down for the week. Friday's rally was broad-based with every sector in positive territory.

Consumer discretionary topped the leaderboard thanks to Tesla rebounding from Thursday's selloff. Information technology was having a strong day with gains in semiconductors and software. The utilities sector was continuing its strong start to 2025. Laggards on Friday included materials, consumer staples, and financials. Power stock: Eaton was one of the standouts in the industrial sector — jumping nearly 3% in Friday trading. RBC Capital raised its price target on the electrical equipment maker to $392 per share from $374, implying 18% upside from Thursday's closing price of $331.96. However, there is another reason for the rally in Eaton. Digging through December's manufacturing ISM report, it again showed the electrical equipment, appliances and components industry is one of the best growth stories in the group. In addition to electrical equipment, appliances and components, the ISM report surveys all different industries, including chemical products, transportation equipment, computer and electronic products, along with food, beverage and tobacco products. One response from a member of the electrical equipment, appliances and components industry — which includes Eaton — said, 'The increase in new orders has our plant at full capacity.' This industry was also one of six reporting growth in new orders, and that's obviously a very good demand signa

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