As previously reported, BofA analyst Andrew Obin downgraded Pentair (PNR) to Underperform from Neutral with a price target of $100, down from $106. While acknowledging that pool sales are growing, the firm thinks weak consumer spending and weak residential construction will drag the rest of the portfolio, the analyst tells investors. Pentair’s earnings trajectory has been strong, driven by execution and pricing, but the firm thinks investors and consensus have priced in upside, the analyst added.
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Read More on PNR:
- Pentair downgraded to Underperform from Neutral at BofA
- Pentair price target raised to $120 from $118 at Oppenheimer
- Pentair price target raised to $121 from $107 at Baird
- Pentair price target raised to $122 from $118 at Mizuho
- Pentair’s Mixed Outlook: Hold Rating Amid Strong Earnings but Weak Demand and Market Challenges