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Fly News Breaks for July 15, 2019
PH
Jul 15, 2019 | 08:37 EDT
As previously reported, KeyBanc analyst Jeffrey Hammond downgraded Parker-Hannifin to Sector Weight from Overweight saying that while he continues to appreciate its internal runway remaining, he is incrementally cautious on the company's forward earnings prospects given potential for fundamentals to weaken and synergies to moderate in 2020. As such, the analyst expects management's initial fiscal year guidance to include plenty of contingency around these dynamics and ultimately catalyze downward estimate revisions within consensus.
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