Breaking News

Barclays analyst Julian Mitchell raised the firm's price target on Parker-Hannifin to $400 from $343 and keeps an Overweight rating on the shares following quarterly results. The company has provided one of the most conservative organic sales guides for the next couple of quarters, with flat/down Industrial organic sales in Q2, whereas most MI / SCI peers are guiding for mid-single digits organic growth, with an acceleration from Q2 2023, the firm said in a research note on Friday. Barclays is "very curious" to see what difference its lack of an infinite backlog makes to differing organic sales performances over the near-term.

BMO Capital analyst Joel Tiss raised the firm's price target on Parker-Hannifin to $380 from $350 and keeps an Outperform rating on the shares after it Q2 earnings beat. The company's standout features include its ability to continually surpass expectations from ongoing margin expansion, while also creating greater earnings stability, the analyst tells investors in a research note, adding that the stock is the firm's "top pick" for a highly liquid, diversified business.

Deutsche Bank analyst Nicole Deblase raised the firm's price target on Parker-Hannifin to $322 from $307 and keeps a Hold rating on the shares post the Q4 results.

Baird analyst Mircea Dobre raised the firm's price target on Parker-Hannifin to $403 from $385 and keeps an Outperform rating on the shares. The analyst said they raised guidance slightly and all in, looks like a good quarter/guide relative to more challenging macro backdrop.

Baird analyst Mircea Dobre raised the firm's price target on Parker-Hannifin to $403 from $385 and keeps an Outperform rating on the shares. The analyst cites the company's strong quarter driving another full year guidance raise, with orders reported much better than anticipated thanks to solid OEM customer backlogs. The firm adds that Parker-Hannifin shares remain attractively valued relative to peers.

Mizuho analyst Brett Linzey raised the firm's price target on Parker-Hannifin to $310 from $300 and keeps a Neutral rating on the shares. The analyst remains positive on the near-term fundamentals for the industrial technology sector, saying Q4 earnings should ne largely in line despite "macro warning signals continuing to flare." Backlogs are strong into 2023, while idiosyncratic factors such as price/cost, factory continuity, fewer supply chain disruptions and capital deployment should help partly buffer slower organic developments, Linzey tells investors in a research note.