Susquehanna analyst Philip Walsh raised the firm’s price target on Parker-Hannifin (PH) to $1,000 from $960 and keeps a Positive rating on the shares. The firm noted they announced the acquisition of privately held Filtration Group Corporation, anaffiliate of Madison Industries, for roughly $9.25B. Upon closing it will create one of the largest industrial filtration businesses globally and they believe the company will be able to leverage its newly expanded suite of filtration products to improve the existing sales and earnings growth of this business once the integration is complete.
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