Catch up on today’s top five analyst upgrades with this list compiled by The Fly: 1. Parker-Hannifin (PH) upgraded to Overweight from Sector Weight at KeyBanc with analyst Jeffrey Hammond believing the company is “early in a multiyear upcycle,” with potential to push margins into the top quartile of its peer group, “further supported by additional value-creating acquisitions” that improve its profitability mix while balancing cyclicality. 2. United Rentals (URI) upgraded to Buy from Neutral at Citi with analyst Timothy Thein thinking positive estimate revisions “can support further upside to the stock.” 3. Hibbett Sports (HIBB) upgraded to Buy from Neutral at Monness Crespi with analyst Jim Chartier saying the stock has pulled back 20% from its all-time high, making the stock “cheap” in his view. 4. UGI Corporation (UGI) upgraded to Buy from Neutral at BofA with analyst Brett Rabatin saying he sees the shares being attractive relative to peers following a pullback and has raised his EPS estimates for FY21 and FY22. 5. Helmerich & Payne (HP), Patterson UTI (PTEN) and Precision Drilling (PDS) all upgraded to Outperform from In Line at Evercore ISI with analyst James West saying oil prices are “firmly in the $70’s per barrel range,” market tightness is expected to continue, OPEC is likely to be gradual in returning barrels to the market and the analyst now has expectations that North American E&P spending will rise about 20% in 2022. This list is just a portion of The Fly’s full analyst coverage. To see The Fly’s full Street Research coverage, (click here.):(http://thefly.com/streetResearch.php)
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