Parker-Hannifin initiated with a Positive at Susquehanna

Susquehanna initiated coverage of Parker-Hannifin (PH) with a Positive rating and $860 price target The company has positioned itself to capitalize on the more cyclically resilient growth trends in aerospace and defense, digitalization, electrification, and clean technologies, the analyst tells investors in a research note. The firm sees Parker-Hannifin benefiting in the medium term from its higher margin aftermarket business, solid execution and a disciplined acquisition strategy.