Parker-Hannifin price target raised to $650 from $610 at Raymond James

Raymond James raised the firm’s price target on Parker-Hannifin to $650 from $610 and keeps an Outperform rating on the shares. The firm sees some headline risk to the near-term Industrial top-line guidance due to ongoing volatility in short-cycle macro indicators and cautious outlooks from NA industrial distributors, but still sees scope for positive surprises on FY25 margins, the analyst tells investors in a research note.