TD Cowen raised the firm’s price target on Parker-Hannifin (PH) to $775 from $650 and keeps a Hold rating on the shares. The firm noted the company is reportedly in talks to acquire Filtration Group for $9B, a potentially large expansion of an already extensive filtration platform and furthering the push towards recurring type business. It would bring life science and clearnroom expertise into a portfolio with industrial and aerospace roots and broaden the company’s application set.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PH:
- Parker-Hannifin to acquire Filtration Group Corporation for $9.25B
- Cautious Hold Rating on Parker Hannifin Amid Uncertain Synergies in Filtration Group Acquisition
- Parker-Hannifin in talks to buy Filtration Group for around $9B, Bloomberg says
- Parker-Hannifin near deal to acquire Filtration Group, Bloomberg reports
- Parker-Hannifin price target raised to $977 from $910 at Truist