Fly News Breaks for January 23, 2020
Jan 23, 2020 | 08:03 EDT
Jefferies analyst Stephen Volkmann said industrial end markets remain sluggish and he anticipates modest volume and margin headwinds in Parker-Hannifin's (PH) Aerospace business as Boeing's (BA) 737 MAX production halt drags on. Given these factors, and Parker's forecast that the acquisition of LORD and Exotic Metals will have a net neutral impact to earnings in year one, Volkmann believes consensus estimates for both FY20 and FY21 appear "optimistic," he tells investors. Volkmann keeps a Hold rating and $195 price target on Parker-Hannifin shares.
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