Parker-Hannifin price target raised to $735 from $690 at KeyBanc

KeyBanc raised the firm’s price target on Parker-Hannifin (PH) to $735 from $690 and keeps an Overweight rating on the shares. The firm says that following the company’s Q3 earnings release and conference call, it walked away encouraged by the growing underlying momentum in Ind’l and continued impressive Aero growth/margin improvement. Looking out, KeyBanc continues to see shares re-rating higher long-term as investors better appreciate Parker-Hannifin’s best-in class position to react to tariffs due to its local-for-local strategy paired with a uniquely strong track record of execution.