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Technology Stocks : Eaton (ETN) is definitely not overvalued!
ETN 383.12-1.2%Oct 30 3:59 PM EDT
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To: Lance Bredvold who wrote (337)5/2/2024 7:23:14 AM
From: Harshu Vyas1 Recommendation

Recommended By
Lance Bredvold

   of 338
 
ETN doesn't deserve its valuation. What exactly is the bull case? Revenues aren't really growing, adjusted for inflation, and yet the stock has increased over 250% in 5 years.

Multiples have expanded from 2x sales in 2019 to over 5x today. The earnings multiple has also doubled, as has EV/EBITDA. There's nothing wrong with the business financially, but the market's lost the plot! The 2019 valuation was about right.

Don't fully understand why industrials have really taken off post-pandemic. Maybe the massive infra bill? All I do know is that you should not buy this stock at this price!
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