Parker-Hannifin initiated with an Equal Weight at Morgan Stanley

Morgan Stanley initiated coverage of Parker-Hannifin (PH) with an Equal Weight rating and $700 price target The company has transformed itself into a “more secular, resilient business,” but the improvement is reflected in the re-rated multiple, the analyst tells investors in a research note. The firm also has concerned on forecasted Industrial mid-single-growth in fiscal 2026 and 2027, putting it on the sidelines.