Pool Corp. price target lowered to $350 from $400 at Stephens

Stephens lowered the firm’s price target on Pool Corp. (POOL) to $350 from $400 and keeps an Overweight rating on the shares. Pool management mentioned pronounced competitive pricing behavior likely to pressure margins outside of Q1, which the firm believes is largely market-by-market where demand is the softest. The firm would expect this to subside as seasonal demand improves and inventory costs increase with supplier price announcements, the analyst tells investors in a post-earnings note.