Mizuho Bullish On Stanley Black & Decker, Dover; Neutral On Parker-Hannifin, IDEX, Flowserve, Xylem; Bearish On Pentair

Mizuho analyst Brett Linzey initiated coverage on several Machinery companies' stocks.

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Mizuho analyst Brett Linzey initiated coverage on several Machinery companies' stocks.

The analyst initiated Pentair PLC (NYSE:PNR) with an Underperform rating and a price target of $65, implying a downside of 8%.
While execution has "shifted into a higher gear since the COVID bottom" in Consumer Solutions and at Industrial & Flow Technologies, Linzey sees a risk of some cooling in the former segment, and it is unclear in the latter segment if the margin lift is associated with the cyclical bounce or whether it is sustainable.
While management is "making strides," the analysts added that the shares have reacted with the stock up 35% year-to-date.
The analyst initiated Parker-Hannifin Corp (NYSE:PH) with a Neutral rating and a price target of $345, implying an upside of 11.6%.
Linzey sees "plenty to like" about Parker-Hannifin's long-term outlook but not enough near-term upside to warrant a Buy rating.
The analyst initiated Stanley Black & Decker, Inc. (NYSE:SWK) with a Buy rating and a price target of $222, implying an upside of 17%.
Linzey noted innovation, new market channels, and varied price point strategies have helped Stanley Black & Decker outgrow the broader Industrial Technology group and peers for the last seven to eight years. While investors worry about tough comps, Linzey believes the valuation is "compelling" and sees "an attractive entry point."
The analyst initiated IDEX Corp (NYSE:IEX) with a Neutral rating and a price target of $233, implying a downside of 1%.
Linzey Idex has built an "impressive portfolio," but the current valuation is "rich."
The analyst initiated Flowserve Corp (NYSE:FLS) with a Neutral rating and a price target of $34, implying an upside of 17%.
Linzey is on the sidelines and prefers other names with "identifiable near-term catalysts."
The analyst initiated Xylem Inc (NYSE:XYL) with a Neutral rating and a price target of $115, implying a downside of 1%.
Linzey says the company saw a sharp order snap-back off the COVID bottom, but supply chain challenges are now clouding its near-term outlook.
He further adds that after raising guidance in both Q1 and Q2, management has lowered the 2021 revenue outlook, and it doesn't appear the issues are subsiding.
The analyst initiated Dover Corp (NYSE:DOV) with a Buy rating and a price target of $195, implying an upside of 12%.
Linzey believes the company's execution and cycle management should continue to drive the stock's valuation higher.
The analyst says with the combination of rising backlogs, strong demand, and easing price/cost pressures, Dover's setup for 2022 "looks promising."
Price Action: PNR shares traded lower by 2.34% at $70.75, PH lower by 1.31% at $309.05, SWK lower by 0.84% at $189.83, IEX down by 1.85% at $235.08, FLS lower by 3.82% at $28.97, XYL down by 1.8% at $116.51 and DOV up by 0.86% at $173.81 on the last check Friday.

PHParker Hannifin Corp

$976.49-%

PNRPentair PLC

$97.352.51%

SWKStanley Black & Decker Inc

$88.80-0.66%

XYLXylem Inc

$142.122.07%

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Posted In:

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The analyst initiated Pentair PLC (NYSE:PNR) with an Underperform rating and a price target of $65, implying a downside of 8%.
While execution has "shifted into a higher gear since the COVID bottom" in Consumer Solutions and at Industrial & Flow Technologies, Linzey sees a risk of some cooling in the former segment, and it is unclear in the latter segment if the margin lift is associated with the cyclical bounce or whether it is sustainable.
While management is "making strides," the analysts added that the shares have reacted with the stock up 35% year-to-date.
The analyst initiated Parker-Hannifin Corp (NYSE:PH) with a Neutral rating and a price target of $345, implying an upside of 11.6%.
Linzey sees "plenty to like" about Parker-Hannifin's long-term outlook but not enough near-term upside to warrant a Buy rating.
The analyst initiated Stanley Black & Decker, Inc. (NYSE:SWK) with a Buy rating and a price target of $222, implying an upside of 17%.
Linzey noted innovation, new market channels, and varied price point strategies have helped Stanley Black & Decker outgrow the broader Industrial Technology group and peers for the last seven to eight years. While investors worry about tough comps, Linzey believes the valuation is "compelling" and sees "an attractive entry point."
The analyst initiated IDEX Corp (NYSE:IEX) with a Neutral rating and a price target of $233, implying a downside of 1%.
Linzey Idex has built an "impressive portfolio," but the current valuation is "rich."
The analyst initiated Flowserve Corp (NYSE:FLS) with a Neutral rating and a price target of $34, implying an upside of 17%.
Linzey is on the sidelines and prefers other names with "identifiable near-term catalysts."
The analyst initiated Xylem Inc (NYSE:XYL) with a Neutral rating and a price target of $115, implying a downside of 1%.
Linzey says the company saw a sharp order snap-back off the COVID bottom, but supply chain challenges are now clouding its near-term outlook.
He further adds that after raising guidance in both Q1 and Q2, management has lowered the 2021 revenue outlook, and it doesn't appear the issues are subsiding.
The analyst initiated Dover Corp (NYSE:DOV) with a Buy rating and a price target of $195, implying an upside of 12%.
Linzey believes the company's execution and cycle management should continue to drive the stock's valuation higher.
The analyst says with the combination of rising backlogs, strong demand, and easing price/cost pressures, Dover's setup for 2022 "looks promising."
Price Action: PNR shares traded lower by 2.34% at $70.75, PH lower by 1.31% at $309.05, SWK lower by 0.84% at $189.83, IEX down by 1.85% at $235.08, FLS lower by 3.82% at $28.97, XYL down by 1.8% at $116.51 and DOV up by 0.86% at $173.81 on the last check Friday.

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Mizuho Bullish On Stanley Black & Decker, Dover; Neutral On Parker-Hannifin, IDEX, Flowserve, Xylem; Bearish On Pentair

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