Parker-Hannifin price target lowered to $680 from $780 at Argus

Argus analyst John Eade lowered the firm’s price target on Parker-Hannifin (PH) to $680 from $780 but keeps a Buy rating on the shares. The firm’s price target is reduced to take into account the potential impact of trade wars on pricing and demand, though longer-term, Argus remains positive on this well-managed company that is on track to achieve its long-term goals of raising margins and growing earnings. The firm adds that it expects Parker to focus on electrification, clean technologies, digitization and aerospace.