Eaton (ETN) has long been a well-regarded industrial conglomerate, so it's not too surprising that the stock has ridden the market upswing and delivered a one-third return just since the mid-fall of 2012. Looking ahead, there are still several valid reasons to be positive on these shares, including significant emerging market growth, leverage to a domestic construction recovery, and the opportunity to boost margins. Although it may be hard for some investors to reconcile the stock near its 52-week high while its end markets are still looking weak, Eaton looks like a relative bargain in a value-starved sector.
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