Jefferies raised the firm’s price target on Parker-Hannifin (PH) to $810 from $765 and keeps a Buy rating on the shares as part of a broader research note previewing 2025 for the Machinery and Industrial sector. The firm is also naming the stock its Top Pick for the year. Approaching 2025 however, the landscape has changed as the markets have turned more bullish on industrial trends and with valuations near the high end of historical highs, forcing the firm to be “increasingly selective”, Jefferies states. Parker-Hannifin’s continued focus on margin expansion, even in declining volume periods, should support additional multiple expansion, bridging the valuation gap relative to premium industrial peers, Jefferies added.
Maximize Your Portfolio with Data Driven Insights:
- Leverage the power of TipRanks' Smart Score, a data-driven tool to help you uncover top performing stocks and make informed investment decisions.
- Monitor your stock picks and compare them to top Wall Street Analysts' recommendations with Your Smart Portfolio
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PH:
- Parker-Hannifin price target raised to $800 from $703 at Barclays
- Trump Trade: Transition team weighing White House crypto role
- Parker-Hannifin price target raised to $775 from $725 at KeyBanc
- Parker-Hannifin price target raised to $763 from $710 at Baird
- Parker-Hannifin downgraded to Hold from Buy at Stifel