Truist raised the firm’s price target on Parker-Hannifin (PH) to $770 from $717 and keeps a Buy rating on the shares after its Q3 earnings beat. The industrial economy remains challenged, but the Aerospace segment continues to exceed expectations on the top line and margins, and the company will continue to look to both niche and larger acquisitions to accelerate its organic growth profile and improve margins, with capacity as well to return cash back to shareholders, the analyst tells investors in a research note.
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Read More on PH:
- Parker-Hannifin price target lowered to $742 from $763 at Baird
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- Parker-Hannifin’s Balanced Earnings Call: Record Margins Amid Challenges
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