Parker-Hannifin's Healthy Outlook, Increased M&A Appetite Makes It Attractive, Says Analyst
Parker-Hannifin's Healthy Outlook, Increased M&A Appetite Makes It Attractive, Says Analyst
Mizuho Securities analyst Brett Linzey upgraded the shares of Parker-Hannifin Corp (NYSE:PH) from Neutral to Buy and raised the price target from $550 to $650.
瑞穗證券分析師佈雷特·林澤將派克漢尼芬公司（紐約證券交易所代碼：PH）的股票從中性上調至買入，並將目標股價從550美元上調至650美元。
The upgrade and the rise in price target come after the company announced its five-year financial targets during the investor's day event.
此次上調和目標股價的上調是在該公司在投資者日活動中宣佈其五年財務目標之後進行的。
PH sees 4%-6% organic sales growth CAGR through 2029, 27% adjusted operating margin, 28% adjusted EBITDA margin and a 10%+ adjusted EPS CAGR.
PH預計，到2029年，有機銷售複合年增長率爲4％-6％，調整後的營業利潤率爲27％，調整後的息稅折舊攤銷前利潤率爲28％，調整後的每股收益複合年增長率爲10％以上。
Execution has been rock solid and the company has established one of the more credible track records in the coverage universe, says the analyst.
分析師表示，執行力堅如磐石，該公司已經建立了報道領域中最可靠的往績記錄之一。
PH has established profit margin targets four times in the last ten years and has exceeded each ahead of schedule, paving the way for more upside conversion, noted the analyst.
分析師指出，在過去十年中，PH已四次設定利潤率目標，並提前超過了每個目標，爲更多的上行轉化鋪平了道路。
According to the analyst, Aerospace & Defense is now one-third of the business mix and is expected to grow in the high-single digit through FY29, driven by air traffic growth and new deliveries.
根據分析師的說法，航空航天與國防現在佔業務結構的三分之一，受空中交通增長和新交付量的推動，預計到29財年將以較高的個位數增長。
Electrification and clean technology trends are expected to be key growth drivers across two-thirds of the portfolio inclusive of Aero, said the analyst.
分析師表示，預計電氣化和清潔技術趨勢將成爲包括Aero在內的三分之二投資組合的關鍵增長動力。
Parker rolled forward its FY27 targets to FY29 with a healthy increase in the margin outlook, asserted the analyst.
分析師斷言，帕克將其27財年的目標推遲至29財年，利潤率前景良好。
The analyst said each reported business segment has room for upside and should contribute to the ~240bps needed to hit the new ~27% operating margin target.
該分析師表示，每個報告的業務板塊都有上行空間，應有助於實現新的約27％的營業利潤率目標所需的約240個點子。
Recent mergers and acquisitions such as Clarcor, Lord, Exotic, and Meggitt have achieved the cost synergy targets implemented by management, noted the analyst.
分析師指出，最近的合併和收購，例如Clarcor、Lord、Exotic和Meggitt，已經實現了管理層實施的成本協同目標。
PH stock has underperformed by ~700bps vs. the group over the past month after solid trading performance to start '24, said the analyst.
該分析師表示，繼24年初的交易表現穩健之後，過去一個月PH股的表現比該集團低約700個點子。
Price Action: PH shares are trading lower by 0.09% at $529.33 at the last check Tuesday.
價格走勢：在週二的最後一次支票中，PH股價下跌0.09％，至529.33美元。
Image from Shutterstock
圖片來自 Shutterstock
譯文內容由第三人軟體翻譯。