Parker-Hannifin price target raised to $1,000 from $900 at Goldman Sachs

Goldman Sachs raised the firm’s price target on Parker-Hannifin (PH) to $1,000 from $900 and keeps a Buy rating on the shares. Parker-Hannifin has evolved into an industrial compounder through strong execution and accretive capital deployment, with one-third of end-market exposure in the more resilient aerospace segment and the remainder positioned to benefit from increased mega-project activity, the analyst tells investors in a research note. North American industrial orders have been positive for four consecutive quarters, and the proposed acquisition of Filtration Group is expected to add further upside to estimates.