Eaton Corporation plc (NYSE:ETN) is among the 13 Best Global Stocks to Buy Right Now. The company’s shares have gained 12.50% over the past month, as of the close of business on July 22, driven by recent developments that have encouraged investor sentiment.
Stock market data showing an upward trajectory. Photo by Burak The Weekender on Pexels
On July 16, the company announced that it had signed an agreement to acquire Resilient Power Systems Inc., a Texas-based developer and manufacturer of innovative energy solutions, including solid-state transformer-based technology. The transaction is set to close during the third quarter of the year and is expected to provide Eaton Corporation plc (NYSE:ETN) with increased exposure to fast-growing markets.
The intelligent power management company also recently announced a collaboration with NVIDIA to enable the shift to HVDC power infrastructure in AI data centers. The partnership is focused on designing best practices, innovative power management solutions, and reference architectures suitable for high-density GPU deployments.
Investor sentiment has also been strengthened by analyst rating updates in July, which have seen leading firms, including Wells Fargo, Goldman Sachs, Barclays, and Citigroup, lifting their price targets for Eaton Corporation plc (NYSE:ETN). Overall, Wall Street analysts maintain a positive outlook for the stock, with a consensus Buy rating.
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