Parker-Hannifin price target raised to $935 from $825 at KeyBanc

KeyBanc analyst Jeffrey Hammond raised the firm’s price target on Parker-Hannifin (PH) to $935 from $825 and keeps an Overweight rating on the shares. Following Parker-Hannifin’s Q1 earnings, while not surprised by the uniquely strong execution given the company’s impressive track-record and messaging at the firm’s recent management meetings, KeyBanc was encouraged by growing signs of improved demand trends in short cycle Industrial as growth inflects positively. Looking out, the firm sees Parker-Hannifin’s shares moving higher long-term, supported by positive estimate revisions driven by continued strong execution paired with robust Aero runway and gradual Industrial improvement.