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Parker-Hannifin Upgraded to “Buy” at Keybanc (PH)

By Dividend.com,  March 17, 2011, 08:46:55 AM EDT

Motion and control systems maker Parker-Hannifin Corporation ( PH ) on Thursday caught a big upgrade from analysts at Keybanc.

The firm said it boosted its rating on PH from "Hold" to "Buy" with a $105 price target. That target implies a potential 22% upside to the stock's Wednesday closing price of $85.92.

Keybanc noted that recent meetings held with the company's management have confirmed its growth potential.

Parker-Hannifin shares were mostly flat in premarket trading Thursday.

The Bottom Line
Shares of Parker-Hannifin ( PH ) have a 1.49% dividend yield, based on last night's closing stock price of $85.92. The stock has technical support in the $80 price area. If the shares can firm up, we see overhead resistance around the $90-$93 price levels.

Parker-Hannifin Corporation ( PH ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: PH



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