Market Overview

UPDATE: Stifel Nicolaus Raised PT to $111 on Parker-Hannifin on Potential Inflection

Related PH
Benzinga's Top Initiations
Wall Street's M&A Chatter From December 1

Stifel Nicolaus reiterated its Buy rating on Parker-Hannifin (NYSE: PH) and increased its price target from $101 to $111.

Stifel Nicolaus noted, "We believe PH shares have yet to price in the potential inflection points we see coming with the shares continuing to trade at a significant discount to the historical average as well as to peers. Parker Hannifin operates in highly cyclical markets and the company has a very good record of consistent cash flow as shown in Exhibit 15. We do not believe the company is adequately rewarded for the consistency of cash flow or its high ROIC. We reiterate our Buy rating and are raising our target price from $101 to $111 as we roll our target price forward to end 2013 and is based on 8x our calendar 2013 EV/EBITDA estimate which equates to 12.9x calendar 2014E EPS."

Parker-Hannifin closed at $84.41 on Friday.

Latest Ratings for PH

Dec 2016Aegis CapitalInitiates Coverage OnHold
Dec 2016Deutsche BankUpgradesHoldBuy
Nov 2016KeyBancMaintainsOverweight

View More Analyst Ratings for PH
View the Latest Analyst Ratings

Posted-In: Stifel NicolausAnalyst Color Price Target Intraday Update Analyst Ratings


Related Articles (PH)

View Comments and Join the Discussion!