Parker-Hannafin has 'clear room for multiple expansion': 5 big analyst picks
Investing.com — Here is your Pro Recap of the biggest analyst picks you may have missed since yesterday: upgrades at Parker-Hannafin, Datadog,Deutsche analysts say they are seeing a couple of compelling shorter-term catalysts ahead and believe the stock is"increasingly becoming a core holding within Industrials for PMs , and rightfully so - the company has proven its ability to deliver superior operational execution in many macro environments.
Yet the stock trades at a 16% discount vs. peers on its price-to-earnings ratio, Deutsche analysts say - a multiple that they think has plenty of room to expand.) shares rose 2.8% Wednesday after Goldman Sachs upgraded the company to Buy from Neutral with a price target of $211.
JPMorgan noted that global cost optimizations impacting cloud spending are easing, which had slowed Datadog's growth from 83% in early 2022 to 25% today. The analysts highlighted that during yesterday’s earnings call, Datadog said that “optimization activity from some customers may be moderating,” and although still affected by optimizations, the company indicated that both intensity and breadth of recent optimization efforts experienced in recent quarters are moderating.
Furthermore, the analysts highlighted the strong Q4 start in October, and easy comps on the horizon for the company.
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