- Parker management has once again laid out its case for the transformation of PH from a predominantly short-cycle cyclical industrial to a growth-leveraged compounder tied to several long-term growth markets.
- Meggitt enhances Parker's exposure to value-added aerospace components at the early phase of what should be a significant growth cycle.
- Automation and electrification remain important drivers; Parker's exposure is more "under the hood", but no less real.
- Parker shares look priced for a double-digit near-term return and long-term total returns in the high single-digits.
For further details see:
Parker Hannifin Makes Its Case For Fundamental Change