Pentair downgraded to Equal Weight from Overweight at Barclays

Barclays downgraded Pentair (PNR) to Equal Weight from Overweight with a price target of $115, down from $127. The firm says further positive surprises on the company’s margin are less likely going forward given the absolute margin heights reached in the pool segment and Pentair’s transformation cost-out efforts ebbing as 2026 approaches. The company’s 2026 capital markets day may underscore a shift in the mix of the company’s earnings drivers, towards a greater reliance on sales, the analyst tells investors in a research note.