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Fly News Breaks for November 5, 2019
PH
Nov 5, 2019 | 08:50 EDT
BMO Capital analyst Joel Tiss raised his price target on Parker-Hannifin to $210 and kept his Outperform rating after its Q3 results, saying that while the company beat on earnings, it cuts its FY20 EPS view to $10.10-$10.19 from $11.50-$12.30. The analyst notes that the guidance cut implies organic sales decline of 6% vs. 1.5% drop previously expected, but he remains bullish on the "bigger story" around the management's efforts to minimize cyclicality and improve profitability.
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