Parker-Hannafin has 'clear room for multiple expansion': 5 big analyst picks
Investing.com | Author Davit Kirakosyan
Published Nov 09, 2023 00:28
Investing.com — Here is your Pro Recap of the biggest analyst picks you may have missed since yesterday: upgrades at Parker-Hannafin, Datadog, Quanta Services , ContextLogic, and KT.
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Deutsche Bank upgrades Parker-Hannifin) to Buy/h2
Deutsche Bank upgraded Parker-Hannifin (NYSE:PH) to Buy from Hold late Wednesday with a price target of $506.00 (from $462.00).
Deutsche analysts say they are seeing a couple of compelling shorter-term catalysts ahead and believe the stock is "increasingly becoming a core holding within Industrials for PMs [portfolio managers], and rightfully so - the company has proven its ability to deliver superior operational execution in many macro environments."
They believe this is rooted in the motion and control tech name's "Win Strategy" and in "significant portfolio change over the past decade, which has created better balance in PH's revenue profile (and brought greater secular growth potential)."
Yet the stock trades at a 16% discount vs. peers on its price-to-earnings ratio, Deutsche analysts say - a multiple that they think has plenty of room to expand.
Shares were ticking up 0.4% to $412.30 in after-hours trading after closing the regular session 0.9% higher.
Quanta Services upgraded at Goldman Sachs/h2
Quanta Services (NYSE:PWR) shares rose 2.8% Wednesday after Goldman Sachs upgraded the company to Buy from Neutral with a price target of $211.00, as reported premarket in real time on
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