Stifel sees Parker-Hannifin results slightly below expectations

Stifel analyst Nathan Jones maintains a Hold rating and $869 price target on Parker-Hannifin (PH) shares following a survey of 38 North American distributors representing about 11% of regional revenue. Parker-Hannifin’s Q2 results showed slightly weaker sales and inventory versus prior expectations, with price deceleration, modestly lower next-12-month forecasts, and demand impacted most by tariffs, local economic conditions, and inflation, while fewer distributors now expect a recession within the year, the analyst tells investors in a research note.