Wedbush Starts Pool Corp (POOL) at Outperform
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Wedbush initiates coverage on Pool Corp (NASDAQ: POOL) with a Outperform rating and a price target of $115.00.
Analyst Al Kaschalk commented, "With scale and as value added distributor of swimming pool supplies, equipment and related outdoor leisure products (Blue Business) and a recurring cash flow model, we view shares of Pool Corporation (POOL) as a core holding for mid-capitalization portfolios. POOL’s estimated ~44% market share lends itself to scale advantages, including purchasing and distribution efficiencies when combined with a large installed base of swimming pools, recovery in US single-family housing, and its growing Irrigation and Landscape (Green business) segment; we look for POOL’s EPS CAGR to be in the 15-18% range over the midterm. POOL’s >100% net income converted to cash flow provides ample funding for disciplined acquisition strategy as well as returns to shareholders via dividend growth and share repurchase program."
Shares of Pool Corp closed at $101.14 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, New Coverage
Related EntitiesDefinitive Agreement, Al Kaschalk
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