Motion and control systems maker Parker-Hannifin Corporation (
PH ) on Monday received some tepid commentary from
analysts at Credit Suisse.
The firm maintained its "Outperform" rating on PH but cut its
price target to $87. That new target suggests an 11% upside to the
stock's Friday closing price of $78.50.
Credit Suisse also cut its earnings estimates for the company,
citing PH's recently lowered guidance. On Friday, PH posted disappointing third quarter
earnings results and offered a very weak full-year
Parker-Hannifin shares were mostly flat in premarket trading
The Bottom Line
Shares of Parker-Hannifin ( PH ) have a 2.09%
dividend yield, based on Friday's closing stock price of $78.50.
The stock has technical support in the $72-$75 price area. If the
shares can firm up, we see overhead resistance around the $83-$85
Parker-Hannifin Corporation ( PH ) is not
recommended at this time, holding a Dividend.com DARS™ Rating of
3.2 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 .
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