Goldman Sachs Downgrades Parker-Hannifin (PH) to Neutral
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Price: $1,001.74 +0.16%
Rating Summary:
26 Buy, 8 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
26 Buy, 8 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Goldman Sachs downgraded Parker-Hannifin (NYSE: PH) from Buy to Neutral with a price target of $80 (down from $97).
Goldman said they see few near-term catalysts until the ISM bottoms and management and analysts recalibrate for slower growth.
The firm lowered FY2012/FY2013/FY2014 EPS estimates to $6.85/$7.15/$7.85 from $7.20/$8.00/$8.80 on slower organic revenue growth and weaker incremental margins.
For more ratings news on Parker-Hannifin click here and for the rating history of Parker-Hannifin click here.
Shares of Parker-Hannifin closed at $67.60 yesterday.
Goldman said they see few near-term catalysts until the ISM bottoms and management and analysts recalibrate for slower growth.
The firm lowered FY2012/FY2013/FY2014 EPS estimates to $6.85/$7.15/$7.85 from $7.20/$8.00/$8.80 on slower organic revenue growth and weaker incremental margins.
For more ratings news on Parker-Hannifin click here and for the rating history of Parker-Hannifin click here.
Shares of Parker-Hannifin closed at $67.60 yesterday.
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