Pentair price target lowered to $101 from $107 at RBC Capital

RBC Capital lowered the firm’s price target on Pentair (PNR) to $101 from $107 and keeps an Outperform rating on the shares. The company’s solid 5% Q1 operating beat and a modest guidance boost was overshadowed by the new and unexpected warning of a potential de-stock in Q2 and Q3, the analyst tells investors in a research note. The firm adds, however, that with no execution issues or management missteps, the sell-off in the stock looks overdone.