BofA raised the firm’s price target on Parker-Hannifin to $600 from $525 and keeps a Buy rating on the shares following a “strong quarter” that came in well above the Street on margin upside. The firm remains constructive on EPS upside through margin expansion in its core and from Meggitt synergies, the analyst tells investors.
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Read More on PH:
- Parker Reports Fiscal 2024 Second Quarter Results
- Parker-Hannifin Corp (PH) Q2 Earnings Cheat Sheet
- Parker Declares Quarterly Cash Dividend
- Parker to Announce Fiscal 2024 Second Quarter Earnings on February 1; Conference Call and Webcast Scheduled for 11 a.m. Eastern
- Parker-Hannifin price target raised to $500 from $473 at Barclays
