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PH

Parker-Hannifin

$167.24

-0.73 (-0.43%)

07:34
08/14/18
08/14
07:34
08/14/18
07:34

Parker-Hannifin downgraded to Hold at Argus on 'challenging' FY19 outlook

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".

PH Parker-Hannifin
$167.24

-0.73 (-0.43%)

08/06/18
EVER
08/06/18
UPGRADE
EVER
Outperform
Parker-Hannifin upgraded to Outperform from In Line at Evercore ISI
08/06/18
EVER
08/06/18
UPGRADE
Target $196
EVER
Outperform
Parker-Hannifin upgraded to Outperform at Evercore ISI
As previously reported Evercore ISI upgraded Parker-Hannifin to Outperform from In Line and raised its price target to $196 from $187. Analyst David Raso said the company's recent operational struggles are behind it with this quarters report and views 2019 guidance as conservative. Raso also said Parker's debt reduction from the Clarcor acquisitions is occurring earlier than expected allowing management to "lean-froward" again with the use of its cash flow and balance sheet in the M&A market. The analyst believes the cycle has more duration and Parker shares should close the discount to the S&P 500, not widen it.
08/06/18
08/06/18
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Comcast (CMCSA) upgraded to Overweight from Neutral at Atlantic Equities with analyst Hamilton Faber saying he believes "the bulk of the M&A storm" has passed. 2. Qualcomm (QCOM) upgraded to Outperform from Market Perform at Cowen with analyst Matthew Ramsay citing the company's $30B buyback and saying he believes the shares offer a compelling risk/reward with effects of lower spending, solid customer performance, and potential QTL resolutions. 3. Square (SQ) upgraded to Buy from Neutral at Buckingham with analyst Chris Brendler saying the Q2 strong results reduced his concerns about high valuation and competition and said there is no reason why Square will not continue to report better-then-expected core revenue growth into 2020. 4. Parker-Hannifin (PH) upgraded to Outperform from In Line at Evercore ISI with analyst David Raso saying the company's recent operational struggles are behind it with this quarters report and views 2019 guidance as conservative. 5. Intercept (ICPT) upgraded to Buy from Sell at Goldman Sachs with analyst Salveen Richter saying Ocaliva in fatty liver disease nonalcoholic steatohepatitis is the crux of Intercept's value proposition and that he's positive into the Phase 3 Regenerate interim readout in the first half of 2019. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/14/18
ARGS
08/14/18
DOWNGRADE
ARGS
Hold
Parker-Hannifin downgraded to Hold from Buy at Argus

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