Parker Hannifin "neutral," target price raised

12/08/05 - Robert W. Baird

NEW YORK, December 8 (newratings.com) - Analysts at Robert W Baird reiterate their "neutral" rating on Parker Hannifin Corporation (PH), while raising their estimates for the company. The target price has been raised from $71 to $73.

In a research note published this morning, the analysts mention that the company’s recent acquisition of the British filtration product manufacturer, Domnick Hunter, is consistent with the company’s systems-driven acquisition strategy. The acquisition is expected to be marginally dilutive to the company’s 2006 EPS and accretive to 2007 EPS, the analysts say.