Jefferies Maintains Hold On Parker Hannifin (NYSE: PH)

Jefferies & Co. is maintaining its Hold rating and $93 price target on shares of Parker Hannifin PH. In a note to clients, Jefferies writes, "Parker has successfully been able to manage through the downturn and as revenues ramp we are seeing margins expand versus the prior cycle following significant reductions to the cost structure and ongoing restructuring activities. However, valuation upside is limited at current levels and we maintain our Hold rating." Shares of PH lost $5.57 yesterday to close at $85.51, a loss of 6.1%.