Analysts Are Bullish on These Conglomerates Stocks: MGA, FSS

By Austin Angelo

There’s a lot to be optimistic about in the Conglomerates sector as 3 analysts just weighed in on Magna International (NYSE: MGA), Federal Signal Corp (NYSE: FSS) and Parker Hannifin (NYSE: PH) with bullish sentiments.

Magna International (NYSE: MGA)

In a report issued on September 14, Brett Hoselton from KeyBanc reiterated a Buy rating on Magna International (NYSE: MGA), with a price target of $55. The company’s shares closed on Friday at $51.91, close to its 52-week low of $36.77.

According to TipRanks.com, Hoselton is a 5-star analyst with an average return of 18.6% and a 70.2% success rate. Hoselton covers the Industrial Goods sector, focusing on stocks such as Superior Industries International, Metaldyne Performance Group, and Cooper-Standard Holdings.

Magna International has an analyst consensus of Moderate Buy, with a price target consensus of $54.33.

Federal Signal Corp (NYSE: FSS)

KeyBanc analyst Steve Barger reiterated a Buy rating on Federal Signal Corp (NYSE: FSS) on September 15 and set a price target of $21. The company’s shares closed on Friday at $19.98, close to its 52-week high of $20.13.

According to TipRanks.com, Barger is a 5-star analyst with an average return of 18.4% and a 64.0% success rate. Barger covers the Industrial Goods sector, focusing on stocks such as Lincoln Electric Holdings, Freightcar America, and Park-Ohio Holdings.

Federal Signal Corp has an analyst consensus of Moderate Buy, with a price target consensus of $21.

Parker Hannifin (NYSE: PH)

KeyBanc analyst Jeffrey Hammond reiterated a Buy rating on Parker Hannifin (NYSE: PH) on September 14 and set a price target of $185. The company’s shares closed on Friday at $169.69, close to its 52-week high of $170.67.

According to TipRanks.com, Hammond is a 5-star analyst with an average return of 12.2% and a 68.3% success rate. Hammond covers the Industrial Goods sector, focusing on stocks such as Thermon Group Holdings Inc, Watts Water Technologies, and Circor International.

Currently, the analyst consensus on Parker Hannifin is Moderate Buy and the average price target is $173.29, representing a 2.1% upside.

In a report issued on September 5, Stifel Nicolaus also reiterated a Buy rating on the stock with a $198 price target.

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