TD Cowen hikes Parker-Hannifin's PT on impressive navigation of market challenges

Parker-Hannifin

11/09/2024 12:27

** TD Cowen raises PT for engineering and technology firm
Parker-Hannifin  PH.N  to $520 from $500; maintains "hold"
rating
    ** Brokerage notes co's "impressive" navigation of market
challenges to date, expects management execution to remain
strong
    ** TD Cowen, however, adds co's China sales remain weak
without much signal for improvement
    ** New PT represents a 10% downside to PH stock's previous
close
    ** 17 of 22 brokerages rate PH stock "buy" or higher and
five "hold"; their median PT is $650 - LSEG data
    ** Up to Tuesday's close, PH up 26% YTD

 (Reporting by Anshuman Tripathy in Bengaluru)
 ((Anshuman.Tripathy@thomsonreuters.com;))