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·林澤將帕克漢尼汾公司（紐交所：PH）的股票評級從中立升級爲買入，並將價格目標從550美元提高到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.
公司在投資者日活動期間宣佈其五年財務目標後，股票升級和價格目標上漲。
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預計通過2029年實現4％-6％的有機銷售增長複合年增長率，27％的調整營業利潤率，28％的調整EBITDA利潤率和10％以上的調整EPS CAGR。
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，公司的執行非常出色，並建立了覆蓋範圍內更可信的記錄之一。
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，PH在過去十年中已經四次設立利潤率目標，並提前超過每個目標，爲更多的上行轉換鋪平了道路。
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.
該行業的航空航天及國防現在佔業務比的三分之一，受空中交通增長和新交付驅動，預計將在FY29中高位個位數增長。
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，電氣化和清潔技術趨勢預計將成爲兩個業務組合的關鍵增長驅動力，包括航空航天等，共佔業務比的三分之二。
Parker rolled forward its FY27 targets to FY29 with a healthy increase in the margin outlook, asserted the analyst.
帕克公司將其FY27目標推遲到FY29，並顯着提高了利潤率展望，分析師肯定了這一點。
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.
分析師表示，每個報告的業務部門都有上行空間，並應爲實現新的約27％營業利潤率目標所需的約240個點子做出貢獻。
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，最近的併購活動，如Clarcor，Lord，Exotic和Meggitt已經實現了管理層實施的成本協同效應目標。
PH stock has underperformed by ~700bps vs. the group over the past month after solid trading performance to start '24, said the analyst.
分析師表示，在打開2024年的交易表現後，PH股票在過去一個月中表現不佳，相對於同行的差距約爲700個點子。
Price Action: PH shares are trading lower by 0.09% at $529.33 at the last check Tuesday.
股票價格：上週二最後檢查時，PH的股票交投下跌0.09％至529.33美元。
Image from Shutterstock
來自Shutterstock的圖片