Andrew Obin, an analyst from Bank of America Securities, reiterated the Buy rating on Parker Hannifin (PH – Research Report). The associated price target remains the same with $800.00.
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Andrew Obin has given his Buy rating due to a combination of factors, primarily focusing on Parker Hannifin’s strong quarterly performance and future growth prospects. Despite a lack of a significant beat-and-raise quarter, the company’s North American and International Industrial businesses showed positive order inflection. This shift in order trends is indicative of Parker’s potential for growth, especially when the manufacturing sector sees renewed expansion. Parker Hannifin’s ability to leverage cyclical growth opportunities, even while its organic sales have been declining, supports the positive outlook.
Additionally, Parker Hannifin’s aerospace business continues to outperform its peers, which, along with its market share initiatives, is expected to shield the company from broader market slowdowns. Even with a lowered FY25 organic growth guide, longer-cycle businesses such as aerospace and semiconductors are driving the order inflow. The company’s strategic position and anticipated recovery in industrial short-cycle markets by the fourth quarter further justify the Buy rating, with a price objective of $800 set by Andrew Obin.
Obin covers the Industrials sector, focusing on stocks such as Ametek, Eaton, and Honeywell International. According to TipRanks, Obin has an average return of 14.4% and a 64.17% success rate on recommended stocks.
In another report released on February 7, Citi also initiated coverage with a Buy rating on the stock with a $795.00 price target.