MKM Partners Maintains a 'Neutral' on Parker-Hannifin (PH); Near-Term Negative Stance
Tweet Send to a FriendGet Alerts PH Hot Sheet
Price: $98.81 +0.11%
Rating Summary:
8 Buy, 6 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 21
Rating Summary:
8 Buy, 6 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 21
Trade PH Now!
MKM Partners maintains a 'Neutral' on Parker-Hannifin (NYSE: PH) price target of $82.00 (from $86.00).
Analyst, Joshua Pokrzywinski, said, "We are not looking to warm up to PH near-term based on the guidance sentiment overhang, but we acknowledge that the market could become overly negative. Investors who believe in a fiscal 2H13 (calendar 1H13) international recovery should view guidance as reasonable, even in the upper half of the range, and in light of PH’s strong free cash flow, there is potential for additional buybacks and M&A, and should view shares as attractively valued. We’re a bit skeptical on 2H – and while shares accordingly do not appear materially undervalued to us, we do not argue for additional downside. Investors now believe that PH cannot raise guidance and may have to lower it without an out-of-consensus 2H recovery – we believe this is priced into the shares or will be soon."
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 $78.85 yesterday, with a 52 week range of $59.26-$91.47.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Analyst, Joshua Pokrzywinski, said, "We are not looking to warm up to PH near-term based on the guidance sentiment overhang, but we acknowledge that the market could become overly negative. Investors who believe in a fiscal 2H13 (calendar 1H13) international recovery should view guidance as reasonable, even in the upper half of the range, and in light of PH’s strong free cash flow, there is potential for additional buybacks and M&A, and should view shares as attractively valued. We’re a bit skeptical on 2H – and while shares accordingly do not appear materially undervalued to us, we do not argue for additional downside. Investors now believe that PH cannot raise guidance and may have to lower it without an out-of-consensus 2H recovery – we believe this is priced into the shares or will be soon."
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 $78.85 yesterday, with a 52 week range of $59.26-$91.47.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Morgan Stanley Maintains Bullish Stance on Walter Energy (WLT)
- Adobe (ADBE) Posts Positive Creative Cloud Subscriber Surprise in Q2 - Jefferies
- Brean Capital Downgrades Tetra Tech (TTEK) to Hold
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS View, Analyst PT Change
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
