Wells Fargo skeptical about report of Eaton unit sale

theflyonthewall.com

Wells Fargo said it is skeptical about Bloomberg's report that Eaton may considering divesting its Automotive business since the firm feels the valuation discussed in the article looks too low. Wells believes the reported $1B valuation for the unit could be at least 50% below a more appropriate valuation. Wells has an Outperform rating on shares of Eaton.

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