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Parker-Hannifin revenue outlook likely to rise meaningfully, says Wells Fargo

Wells Fargo believes that Parker Hannifin's near-term order trends could rise, leading to a significant increase in revenue expectations for the company. The firm bases its optimism on the Japanese machinery order report released last night which ,according to the firm, suggests that the company's diversified Industrial- International business segment may be seeing order momentum. Wells keeps an Outperform rating on the shares.