Parker-Hannifin price target raised to $710 from $695 at Baird

Baird raised the firm’s price target on Parker-Hannifin (PH) to $710 from $695 and keeps an Outperform rating on the shares. The firm said the operating environment has gotten tougher over the past three months as production cuts from Off Highway OEMs coupled with disruptions in Aerospace Commercial OE but the company is managing very well, as Industrial orders remained relatively resilient.