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Parker-Hannifin’s Target, Estimates Reduced at Credit Suisse (PH)
10/22/2012 8:54:00 AM
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 outlook.
Parker-Hannifin shares were mostly flat in premarket trading Monday.
The Bottom Line
Parker-Hannifin Corporation ( PH ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 out of 5 stars.