$6 Increase in Parker Hannifin (PH) Price Target – Jefferies
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Jefferies Equity Research increased their price target on Parker Hannifin (PH) stock by $6, raising it to $100 even.
Parker Hannifin reported better than expected fiscal third quarter EPS ($2.01 vs. $1.72) due to higher margins. Full year 2012 guidance was increased $0.30 to $7.30-$7.50 from $6.90-$7.30, and plans are on the table for a 10% share repurchase.
Jefferies analysts are bullish on the stock given its valuation relative to peers, and they think that recent acquisitions and continued margin gains should provide solid revenues in 2012.
Jefferies has a BUY rating on PH.
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 $87.96 yesterday.
Parker Hannifin reported better than expected fiscal third quarter EPS ($2.01 vs. $1.72) due to higher margins. Full year 2012 guidance was increased $0.30 to $7.30-$7.50 from $6.90-$7.30, and plans are on the table for a 10% share repurchase.
Jefferies analysts are bullish on the stock given its valuation relative to peers, and they think that recent acquisitions and continued margin gains should provide solid revenues in 2012.
Jefferies has a BUY rating on PH.
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 $87.96 yesterday.
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