Parker-Hannifin price target raised to $344 from $322 at Deutsche Bank

Deutsche Bank analyst Nicole Deblase raised the firm’s price target on Parker-Hannifin to $344 from $322 and keeps a Hold rating on the shares. The earnings setup for the multi-industry group is "undeniably challenging," with investors increasingly nervous about the macro environment, the analyst tells investors in a research note. However, the firm does not expect this quarter to bring much new insight into the broader recession debate .Against this backdrop, industrial investors are likely to remain cautious, it contends.