Truist initiated coverage of Parker-Hannifin with a Buy rating and $602 price target. The firm believes the current downturn “proves Parker’s portfolio is more earnings resilient” and will support a valuation re-rating, the analyst tells investors. Parker has continued to raise its long-term financial targets over the last several years and the firm believes the company is ahead of plan with regards to its 2027 targets, the analyst added.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on PH:
- Parker Scheduled to Present at the Bank of America Global Industrials Conference on March 19 at 11:25 a.m. Greenwich Mean Time (7:25 a.m. Eastern Time)
- GoodRx upgraded, Fisker downgraded: Wall Street’s top analyst calls
- Parker-Hannifin upgraded to Market Perform on earnings growth at TD Cowen
- Parker-Hannifin upgraded to Market Perform from Underperform at TD Cowen
- Parker Scheduled to Present at the Evercore ISI Industrial Conference on March 5 at 11:20 a.m. Eastern Time