These firms believe that the Company’s end market exposures and downside risk due to deceleration of the international markets could become hindrances to the growth of ETN. These firms expect several quarters of negative earnings revisions for ETN, which will keep the stock under pressure. However, in the near term, these firms continue to expect a fairly muted recovery in the earlier cycle businesses (Auto, Truck), and anticipate another “down year” at Hydraulics in 2010. Further, these firms expect the later cycle businesses (specifically Electrical) to get progressively worse through at least the end of FY10.