Barclays analyst Julian Mitchell maintains $Parker Hannifin (PH.US)$ with a buy rating, and adjusts the target price from $650 to $703.
According to TipRanks data, the analyst has a success rate of 66.6% and a total average return of 16.8% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Parker Hannifin (PH.US)$'s main analysts recently are as follows:
The outlook for 2025 entry rates and trends is considered to be of greater significance than the latter half of 2024 updates within the multi-industry sector. The forecast for industrial capital expenditures appears to be lackluster, alongside residential trends that seem to be reaching a nadir.
The firm suggests that investors could utilize the year-over-year changes in the global PMI index to inform their trading strategies, potentially augmenting a long-term 'buy and hold' approach. In the near term, expectations of some volatility in Parker-Hannifin's stock are anticipated, while scenario analysis indicates a favorable risk/reward scenario looking forward over the next year.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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