Raymond James analyst Tim Thein raised the firm’s price target on Parker-Hannifin (PH) to $845 from $735 and keeps an Outperform rating on the shares. Parker-Hannifin warrants a valuation at least in line with the upper tier of large cap industrial compounders, the analyst tells investors in a research note. Parker’s Aerospace group is well-positioned to benefit from a number of tailwinds, including rising global commercial air traffic, aging fleets and secular growth in global defense spending, the firm says.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PH:
- Parker-Hannifin price target raised to $810 from $790 at KeyBanc
- Parker-Hannifin price target raised to $809 from $722 at Deutsche Bank
- Parker Hannifin: Strong Earnings and Pricing Power Offset by Deceleration in Order Growth and Conservative Guidance
- Parker-Hannifin price target raised to $776 from $750 at Barclays
- Parker Hannifin Reports Record Year and Positive Outlook