Parker-Hannifin price target raised to $1,100 from $1,050 at KeyBanc

KeyBanc raised the firm’s price target on Parker-Hannifin (PH) to $1,100 from $1,050 and keeps an Overweight rating on the shares. Following the company’s Q2 earnings, although uniquely strong execution from Parker-Hannifin has become commonplace, the firm nonetheless was impressed by its navigation of a choppy end market backdrop with strong incrementals. Looking out, although the stock has re-rated, KeyBanc believes continued organic earnings upside from strong execution and eventual Filtration Group contribution will support shares moving higher long-term.