Parker-Hannifin price target raised to $446 from $383 at Stifel

Stifel analyst Nathan Jones raised the firm’s price target on Parker-Hannifin to $446 from $383 and keeps a Buy rating on the shares after having surveyed 41 domestic Parker-Hannifin distributors representing an estimated 13% of Parker’s Diversified Industrial North America revenue. Next twelve months sales expectations decelerated 2.4% from 4.7%, says the firm, which notes that its last three months Parker North America distributor survey regression model forecasts organic North American revenue growth of 3.1% in fiscal Q4.