Barclays analyst Julian Mitchell raised the firm’s price target on Parker-Hannifin to $650 from $610 and keeps an Overweight rating on the shares. The company’s year-over-year trends in Industrial orders, sales and profits “may be around the floor,” the analyst tells investors in a research note. The firm expects a “shallow recovery” through fiscal 2025 for Parker-Hannifin.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PH:
- Parker-Hannifin sees FY25 adjusted EPS $26.30-$27, consensus $26.31
- Parker-Hannifin reports Q4 adjusted EPS 6.77 , consensus $6.22
- Parker-Hannifin Corp (PH) Q4 Earnings Cheat Sheet
- Parker to Announce Fiscal 2024 Fourth Quarter and Full Year Earnings on August 8th; Conference Call and Webcast Scheduled for 11 a.m. Eastern
- Parker-Hannifin to sell North America Composites & Fuel Containment division