Deutsche Bank Upgrades Parker-Hannifin (PH) to Buy, Price Target $100

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Deutsche Bank upgraded shares of Parker-Hannifin (NYSE: PH) to a Buy rating and is raising their price target to $100 from $95. The firm reports that YTD, PH has been one of the worst performing stocks in the MI/EE group, declining ~2%, 8-9ppts lower than the sector, but with their recent sell-off they are the best looking company given their balance sheet.

The firm comments that currently shares are "extremely undervalued."

For more ratings news on Parker-Hannifin click here and for the rating history of Parker-Hannifin click here.

Shares of Parker-Hannifin closed at $85.39 yesterday, with a 52 week range of $54.26-$93.60.

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