In a report released on October 3, Charles Minervino from Susquehanna reiterated a Buy rating on Parker Hannifin, with a price target of $860.00.
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Charles Minervino has given his Buy rating due to a combination of factors that emerged from a meeting with Parker Hannifin’s senior management. The company is showing resilience in the face of a challenging industrial spending environment, which is still sluggish.
Furthermore, Parker Hannifin is successfully driving profitable growth within its Aerospace Systems division. These strategic advancements and the company’s ability to navigate current market conditions effectively contribute to the positive outlook and Buy rating.
Minervino covers the Energy sector, focusing on stocks such as Baker Hughes Company, MRC Global, and TechnipFMC. According to TipRanks, Minervino has an average return of 5.1% and a 54.82% success rate on recommended stocks.