Pool Corp. initiated with a Neutral at Guggenheim

Guggenheim initiated coverage of Pool Corp. (POOL) with a Neutral rating and no price target Pool Corp. is the largest wholesale distributor of swimming pool supplies, equipment and related leisure products and a leading distributor of irrigation and landscape products, the analyst tells investors in a research note. The firm believes the company is positioned for “solid” secular growth in the years ahead, but says “suppressed” new pool construction activity, the risk of new competitive pressures and the stock’s premium valuation could limit shareholder returns over the next 12 months.