Pentair downgraded to Sell from Hold at TD Cowen

TD Cowen analyst Joe Giordano downgraded Pentair (PNR) to Sell from Hold with a price target of $90, down from $110. The firm believes the company will be pressured to raise margin targets that the Street has already fully discounted in the shares. Pentair’s end market momentum “remains weak,” and there is risk of lighter than expected guidance as the CFO retires, the analyst tells investors in a research note.