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SBGSY - Eaton Still Standing Out On Execution And Strong Electrical Drivers
Schneider Electric SE ADR
Eaton outperformed revenue expectations and once again showed better-than-expected decremental margin performance.
While there will be pressures in some areas of commercial construction, oil/gas, and aerospace, 2021 is looking good for Eaton, and Electrical should be a multiyear growth story.
Eaton's valuation isn't great in absolute terms, but relative to other industrials, I believe opportunities in Electrical, M&A, and margins offer enough reasons to stay bullish.