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Pool Corp. price target lowered to $322 from $370 at Oppenheimer

Oppenheimer analyst Scott Schneeberger lowered the firm’s price target on Pool Corp. (POOL) to $322 from $370 and keeps an Outperform rating on the shares. The firm notes the company’s Q1 adjusted EPS topped its estimate, but was slightly below consensus. Q1 revenue/gross margin/operating margin were each lower than the consensus expectation. Although new construction and discretionary remodel activity remain challenging, Pool highlighted growth initiatives contributing to maintenance volume growth, Oppenheimer adds.

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