UPDATE: Stifel Nicolaus Raises PT on Parker-Hannifin Following Guidance Report

In a report published Wednesday, Stifel Nicolaus analyst Nathan Jones reiterated a Buy rating on Parker-Hannifin (NYSE: PH ), and raised the price target from $118.00 to $122.00. In the report, Stifel Nicolaus noted, “While Parker's quarter and F2014 guidance disappointed, we believe the real story lies in the restructuring plans