Jefferies Upgrades Parker-Hannifin (PH) to Buy

November 7, 2013 7:31 AM EST Send to a Friend
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Price: $129.03 -2.02%

Rating Summary:
    10 Buy, 7 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 3 | Down: 17 | New: 2
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Jefferies upgraded Parker-Hannifin (NYSE: PH) from Hold to Buy with a price target of $135.00 (from $115.00).

"An inflection in orders, the prospect of revenue/earnings growth beyond current expectations and potential for a corresponding multiple upgrade drive our improved outlook," analyst Stephen Volkmann said. "We are raising our estimates and see upwards of $0.50-1.00 of EPS upside versus a subdued consensus plus a call option on significant excess liquidity that could fund a 15+% share repurchase and/or a step up in acquisition activity."

The firm raised FY 013 EPS from $6.75 to $6.85 and FY 2014 EPS from $8.05 to $8.40.

For an analyst ratings summary and ratings history on Parker-Hannifin click here. For more ratings news on Parker-Hannifin click here.

Shares of Parker-Hannifin closed at $115.94 yesterday.


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