Shares of Cooper Industries PLC (CBE) hit a new 52-week high on Friday. The stock traded as high as $68.60 during mid-day trading and last traded at $68.49. The stock previously closed at $64.90.
Separately, analysts at Deutsche Bank (NYSE: DB) downgraded shares of Cooper Industries PLC from a “buy” rating to a “hold” rating in a research note to investors on Thursday. They now have a $69.00 price target on the stock. Also, analysts at Goldman Sachs (NYSE: GS) reiterated a “neutral” rating on shares of Cooper Industries PLC in a research note to investors on Wednesday.
Cooper Industries plc (Cooper), formerly Cooper Industries, Ltd., incorporated on June 4, 2009, is engaged in the manufacture, market and sale of electrical products worldwide. Cooper has manufacturing facilities in 23 countries. Operations in the United States are conducted by wholly owned subsidiaries of Cooper. The Company serves four markets: the industrial, commercial, utility and residential markets. Cooper also serves the electronics and telecommunications markets. Markets for Cooper’s products and services are worldwide, though the United States is the primary market. The Company’s Electrical Products business manufactures, markets and sells electrical and circuit protection products. In March 2009, the Company acquired Illumination Management Solutions, Inc. In November 2009, the Company acquired Pauluhn from Federal Signal Corporation.
