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Discover LudwigThe phrase "are eyeing" is correct and usable in written English.
It can be used when describing someone who is looking at something with interest or desire, often in a figurative sense.
Example: "The investors are eyeing the new startup for potential investment opportunities."
Alternatives: "are watching" or "are considering".
Dictionary
are eyeing
noun
An organ through which animals see.
Exact(60)
Bigger clubs are eyeing him now.
The guards are eyeing us suspiciously.
Botham says England are "eyeing up 300".
New Zealand are eyeing victory now.
Now developers are eyeing the surrounding hillsides.
Already, some researchers are eyeing the next frontier: social life.
British producers are eyeing up foreign shores too.
Now some of those investors are eyeing Africa.
The undesirables, meanwhile, are eyeing us with the same thought.
Most utilities are eyeing one of three basic designs.
Even drugs companies are eyeing this new market.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com