Parker Hannifin: Recent Weakness Creates Attractive Entry Point, Says Argus


In a research note issued today, Argus analyst Jim Kelleher maintained a Buy rating on shares of Parker-Hannifin Corporation (PH), with a price target of $143.00, following fiscal 3Q14 results, which were below-consensus but in line with management’s guidance.

Kelleher commented: “In our view, Parker-Hannifin is successfully executing on its goals of raising margins and growing orders and sales. For the third consecutive quarter, the company has seen an upturn in order flow. Our blended valuation model points to a fair value of PH of $143 per share. This target implies a 12-month risk-adjusted return of 15.4%, including the dividend. Our five-year rating remains BUY, as we believe that parker’s extensive distribution network and effective acquisition strategy will continue to provide long-term competitive advantage”.

According to TipRanks, which measures analysts and bloggers success rate based on how their calls perform, analyst Jim Kelleher currently has a one-year average return of 17% and a 73% success rate. He is ranked #311 out of 3137 analysts.

PH Chart

 

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