Parker-Hannifin's Healthy Outlook, Increased M&A Appetite Makes It Attractive, Says Analyst
Portfolio Pulse from Shivani Kumaresan
Mizuho Securities analyst Brett Linzey upgraded Parker-Hannifin Corp (NYSE:PH) from Neutral to Buy and raised the price target from $550 to $650. The upgrade follows the company's announcement of its five-year financial targets, including 4%-6% organic sales growth CAGR through 2029 and a 27% adjusted operating margin. The analyst highlighted the company's strong execution, credible track record, and growth potential in Aerospace & Defense and clean technology trends.
May 28, 2024 | 5:40 pm
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Mizuho Securities upgraded Parker-Hannifin Corp (NYSE:PH) from Neutral to Buy and raised the price target from $550 to $650. The upgrade is based on the company's strong financial targets and growth potential in Aerospace & Defense and clean technology trends.
The upgrade and increased price target from a reputable analyst, combined with strong financial targets and growth potential in key sectors, are likely to positively impact PH's stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100