KeyBanc analyst Jeffrey Hammond raised the firm’s price target on Parker-Hannifin to $460 from $450 and keeps an Overweight rating on the shares. The firm walked away from Parker-Hannifin’s Q4 earnings with incremental conviction in its long-term thesis, saying the advantages of Parker’s more cyclically balanced portfolio show through on the FY24 outlook.
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Read More on PH:
- Parker-Hannifin price target raised to $465 from $436 at Baird
- Parker-Hannifin sese FY24 adjusted EPS $21.90-$22.90, consensus $22.26
- Parker-Hannifin reports Q4 adjusted EPS $6.08, consensus $5.48
- Parker Reports Fiscal 2023 Fourth Quarter and Full Year Results and Issues Guidance for Fiscal 2024
- Parker-Hannifin Corp (PH) Q4 Earnings Cheat Sheet