Stifel raised the firm’s price target on Parker-Hannifin (PH) to $709 from $670 and keeps a Hold rating on the shares. The firm’s survey of 38 domestic Parker-Hannifin distributors representing an estimated 10% of Parker’s Diversified Industrial North America revenue shows that Q4 reported results for sales and pricing were slightly lower, while inventory was slightly better than expected vs. the prior survey conducted at the end of May, the analyst tells investors in a research note.
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