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Parker-Hannifin’s Healthy Outlook, Increased M&A Appetite Makes It Attractive, Says Analyst

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Mizuho Securities analyst Brett Linzey upgraded the shares of Parker-Hannifin Corp (NYSE:PH) from Neutral to Buy and raised the price target from $550 to $650.

The upgrade and the rise in price target come after the company announced its five-year financial targets during the investor’s day event.

PH sees 4%-6% organic sales growth CAGR through 2029, 27% adjusted operating margin, 28% adjusted EBITDA margin and a 10%+ adjusted EPS CAGR.

Execution has been rock solid and the company has established one of the more credible track records in the coverage universe, says the analyst.

PH has established profit margin targets four times in the last ten …

Full story available on Benzinga.com

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