Truist raises Parker-Hannifin PT after Q3 profit beats estimate

Parker-Hannifin

02/05/2025 14:52

** Truist Securities raises price target on Parker-Hannifin PH.N to $770 from $717, upside of 26% to the stock's last close

** Says the airframes and engine component supplier will continue to look at both niche and larger acquisitions to accelerate the organic growth profile of the company and improve margins

** Brokerage states, while the industrial economy remains challenged, the aerospace segment continues to exceed expectations on revenue and margins, offsetting weakness in North America and international industrial markets

** Truist reiterates 'buy' rating on the stock

** Shares are up 2% at $624 in early trading

** 18 of 23 brokerages rate the stock "buy" or higher, 5 "hold"; their median PT is $704.50 - data compiled by LSEG

** Including session moves, stocks down 1.9% YTD

(Reporting by Apratim Sarkar)

((Apratim.Sarkar@thomsonreuters.com))