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Eaton Corporation plc (NYSE:ETN) is one of the AI Stocks You Should Not Ignore. On September 15, Melius upgraded the stock to “Buy” from Neutral with a price target of $495. The firm believes Eaton is a “secular winner.”
“We are upgrading Eaton to Buy from Hold and raising our price target to $495 from $412, implying 35% upside from the current price.”
According to the firm, previous concerns around valuation and slowing earnings momentum have now eased driven by renewed AI capital spending and a more reasonable valuation.
In an investor note, analysts at Melius stated that they believe demand will continue to outpace supply even after new capacity is added. Moreover, Eaton’s cyclical segments appear to be bottoming out, which implies another phase of growth for 2026 and beyond.
Eaton Corporation plc (NYSE:ETN) is a global power management company offering electrical, aerospace, vehicle, and eMobility solutions.
While we acknowledge the potential of ETN as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 10 AI Stocks Making Headlines This Week and 10 Trending AI Stocks on Wall Street.
Disclosure: None.
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