Clarcor (CLC) volatility low into acquiring Parker-Hannifin (PH) for approximately $4.3B in cash
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Jefferies Raises Price Target on Parker-Hannifin (PH) Ahead of Acquisition Close
December 5, 2016 8:31 AM ESTJefferies reiterated a Hold rating on Parker-Hannifin (NYSE: PH), and raised the price target to $145.00 (from $110.00), after updating the company model. The update comes as PH prepares to close on its acquisition of CLARCOR (NYSE: CLC).
The... More
S&P Lowers Outlook on Parker-Hannifin (PH) to Negative Amid CLARCOR (CLC) Deal
December 1, 2016 10:47 AM ESTS&P Global Ratings said that it has revised its outlook on Parker-Hannifin Corp. (NYSE: PH) to negative from stable and affirmed all of its ratings on the company, including our 'A' corporate credit rating.
"Parker-Hannifin's debt balance will increase meaningfully following the close of its acquisition of CLARCOR because it will issue about $3.0 billion of new debt to partly fund the transaction, which we expect will leave the company with weak credit measures for the current rating over the next two years," said S&P Global credit analyst Carissa Schreck. We... More
