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Fly News Breaks for November 1, 2019
PH
Nov 1, 2019 | 08:19 EDT
Deutsche Bank analyst Nicole DeBlase upgraded Parker-Hannifin to Buy from Hold with a price target of $215, up from $179. After going through the company's reduced fiscal 2020 earnings outlook in detail, the analyst feels if Parker-Hannifin is embedding a sales scenario that properly reflects its typical trends during an industrial recession. As such, she thinks this is the last of the fiscal 2020 earnings cuts. Further, the analyst sees scope for Parker-Hannifin to reach the high end of its guidance.
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