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Fly News Breaks for August 14, 2018
PH
Aug 14, 2018 | 07:34 EDT
As reported earlier, Argus analyst John Eade downgraded Parker-Hannifin to Hold from Buy, saying that while the company's recent Q4 results topped expectations, the management's outlook for FY19 was worse than expected. The analyst warns that the uncertainty around trade and tariffs could further compress industry valuations, with the stock already falling about 5% over the past quarter. Eade states that while he is positive on Parker-Hannifin's ability to raise margins and grow earnings over the long term, the near-term trends are more "problematic".
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