Baird analyst Mircea Dobre raised the firm’s price target on Parker-Hannifin to $403 from $385 and keeps an Outperform rating on the shares. The analyst cites the company’s strong quarter driving another full year guidance raise, with orders reported much better than anticipated thanks to solid OEM customer backlogs. The firm adds that Parker-Hannifin shares remain attractively valued relative to peers.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on PH:
- Parker Reports Fiscal 2023 Second Quarter Results
- Parker-Hannifin sees FY23 adjusted EPS $19.20-$19.70, consensus $19.11
- Parker-Hannifin reports Q2 adjusted EPS $4.76, consensus $4.46
- Parker Declares Quarterly Cash Dividend
- Parker to Announce Fiscal 2023 Second Quarter Earnings on February 2nd; Conference Call and Webcast Scheduled for 11 a.m. Eastern