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.
瑞穗证券分析师布雷特·林泽将派克汉尼芬公司（纽约证券交易所代码：PH）的股票从中性上调至买入，并将目标股价从550美元上调至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.
此次上调和目标股价的上调是在该公司在投资者日活动中宣布其五年财务目标之后进行的。
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预计，到2029年，有机销售复合年增长率为4％-6％，调整后的营业利润率为27％，调整后的息税折旧摊销前利润率为28％，调整后的每股收益复合年增长率为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.
分析师表示，执行力坚如磐石，该公司已经建立了报道领域中最可靠的往绩记录之一。
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.
分析师指出，在过去十年中，PH已四次设定利润率目标，并提前超过了每个目标，为更多的上行转化铺平了道路。
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.
根据分析师的说法，航空航天与国防现在占业务结构的三分之一，受空中交通增长和新交付量的推动，预计到29财年将以较高的个位数增长。
Electrification and clean technology trends are expected to be key growth drivers across two-thirds of the portfolio inclusive of Aero, said the analyst.
分析师表示，预计电气化和清洁技术趋势将成为包括Aero在内的三分之二投资组合的关键增长动力。
Parker rolled forward its FY27 targets to FY29 with a healthy increase in the margin outlook, asserted the analyst.
分析师断言，帕克将其27财年的目标推迟至29财年，利润率前景良好。
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.
该分析师表示，每个报告的业务板块都有上行空间，应有助于实现新的约27％的营业利润率目标所需的约240个基点。
Recent mergers and acquisitions such as Clarcor, Lord, Exotic, and Meggitt have achieved the cost synergy targets implemented by management, noted the analyst.
分析师指出，最近的合并和收购，例如Clarcor、Lord、Exotic和Meggitt，已经实现了管理层实施的成本协同目标。
PH stock has underperformed by ~700bps vs. the group over the past month after solid trading performance to start '24, said the analyst.
该分析师表示，继24年初的交易表现稳健之后，过去一个月PH股的表现比该集团低约700个基点。
Price Action: PH shares are trading lower by 0.09% at $529.33 at the last check Tuesday.
价格走势：在周二的最后一次支票中，PH股价下跌0.09％，至529.33美元。
Image from Shutterstock
图片来自 Shutterstock