Baird raised the firm’s price target on Parker-Hannifin to $465 from $436 and keeps an Outperform rating on the shares after its Q4 results. The company ended FY23 with a solid beat, and more importantly, it has shown that it is increasingly able to navigate through Industrial short-cycle softness aided by margin expansion and Aerospace growth, the analyst tells investors in a research note.
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Read More on PH:
- 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 price target raised to $465 from $436 at Baird
- Parker-Hannifin Corp (PH) Q4 Earnings Cheat Sheet