Barclays raised the firm’s price target on Parker-Hannifin to $558 from $500 and keeps an Overweight rating on the shares. The analyst says high teens profit growth in the midst of a short cycle industrial slowdown underscores the strong operational execution at Parker-Hannifin, and the degree to which the business model is changing, which is not yet reflected in the stock’s valuation multiple.
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-Hannifin price target raised to $550 from $460 at Argus
- Parker-Hannifin price target raised to $600 from $525 at BofA
- Parker-Hannifin price target raised to $490 from $475 at Mizuho
- Parker-Hannifin price target raised to $575 from $500 at KeyBanc
- Parker-Hannifin price target raised to $622 from $480 at Baird
