TD Cowen analyst Joseph C Giordano maintained a Buy rating on Pentair (PNR – Research Report) yesterday and set a price target of $115.00.
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Joseph C Giordano has given his Buy rating due to a combination of factors that suggest strong potential for Pentair’s stock. Despite modestly lowering estimates for 2025, Giordano sees reduced risk for 2026, as contingency plans from Investor Day have been removed. The company demonstrated a solid earnings per share growth of 15% in 2024 and is projected to continue growing by approximately 10% in 2025, even amidst declining end markets.
Giordano notes that investor sentiment remains positive, as PNR has shown effective self-management and resilience in its recent results. While future cycles in pool, residential, and industrial sectors may bolster growth, they are not deemed necessary for achieving the fiscal year 2026 targets or current model projections. As long as the underlying markets do not worsen further, the company is seen to maintain control over its growth trajectory. The price target of $115 suggests a valuation of around 24 times FY24 EPS and 21 times FY25 EPS, supporting the Buy recommendation.
In another report released on February 5, Stifel Nicolaus also maintained a Buy rating on the stock with a $125.00 price target.