Parker-Hannifin price target raised to $715 from $665 at Mizuho

Mizuho raised the firm’s price target on Parker-Hannifin to $715 from $665 and keeps an Outperform rating on the shares. The firm recalibrated several electrical equipment and multi-industry models for seasonality and trend data ahead of the Q3 earnings season to reflect corporate feedback, portfolio updates, channel checks, and related incoming data. The target increase is largely driven by increased group valuations driving up the entire complex, the analyst tells investors in a research note.