Eaton (ETN) is definitely not overvalued! Message Board

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Technology Stocks : Eaton (ETN) is definitely not overvalued!

ETN 354.90

-3.9%

3:50 PM EST

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To: Walter Morton who wrote (8)	8/16/1998 1:44:00 PM
From: Grand Poobah	Read Replies (3) of 338

Walter, It's nice to finally see an Eaton thread on SI. It's hard to believe a company this big doesn't get more notice. I am surprised to see the stock price this low. When I looked at it six months ago, it was in the 90s. I decided I would be more willing to invest in ETN if it was around 85 or below, and so it went on the back shelf for a while. Now, when I turn around to give it a second look, it's hovering around 65. I understand the concerns about Asia's effect on the semiconductor equipment sector especially and the economy as a whole, but Eaton is a big enough company to weather all that and come through strong on the other side. The management and strategy both look very solid to me, and can't quite figure out why ETN is trading at a P/E of 10 or 11. Any ideas? I have found that the market may be shortsighted, but it usually has some reason for doing what it's doing. And I just can't figure out what it is in ETN's case. Is there something I'm missing? Regards, G.P.

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