The call I made earlier this year for preferring Honeywell (HON) and Eaton (ETN)
in the industrial/multi-industrial space had been working pretty well
through October, but looks more “okayish” now that more
machinery-oriented industrials like Eaton have lost some luster. Eaton’s
third quarter results had some air bubbles in it, but overall there
wasn’t much that worried me and I still think this is an above-average
idea in the industrial space. That said, there are growing signs that
the cycle is slowing and liking Eaton now means fighting the tape to at
least some extent.
Read more here:
Eaton's Challenges Look More Sector/Sentiment-Specific
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