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Technology Stocks : Eaton (ETN) is definitely not overvalued! -- Ignore unavailable to you. Want to Upgrade?

To: pavlov 1 who wrote (135)	3/17/1999 11:06:00 AM
From: Walter Morton	Read Replies (2) \| Respond to of 338

Salomon Smith Barney has a 12-month target price for ETN at $85.00 per share. Eaton Corp. Raised to 'Buy' at Salomon Smith Barney Bloomberg News March 17, 1999, 5:30 a.m. PT Princeton, New Jersey, March 17 (Bloomberg Data) -- Eaton Corp. (ETN US) was raised to ''buy'' from ''neutral'' by analyst Tobias M. Levkovich at Salomon Smith Barney. The 12-month target price is $85.00 per share.

To: pavlov 1 who wrote (135)	3/25/1999 6:09:00 PM
From: Walter Morton	Read Replies (1) \| Respond to of 338

behrgroup.com Is this the company that Eaton is going to sell its most profitable division? Fluid power was rumored to be at least 200% more profitable than some of ETN's other divisions. There news release states that this is an example of how confident ETN is in its future earnings. I wonder if this is not a desperate act. Eaton buys a company for $1.17 billion that has sales of $2.15 billion, but reduces its current $6.6 billion by $300 million (Fluid Power Division & Fastener Division). So, instead of sales of $8.75 billion (minus 25% for the first quarter), we can expect to to reduce $300 million.