Oscar Gruss Starts Pentair (PNR) at Buy; The Beginning Of A Great Partnership
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Price: $59.57 +1.29%
Rating Summary:
8 Buy, 5 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Rating Summary:
8 Buy, 5 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Trade PNR Now!
Oscar Gruss initiates coverage on Pentair (NYSE: PNR) with a Buy. PT $44.00.
Analyst, Louis Meyer, said, "We believe merging the Flow Control business into PNR should benefit both sets of shareholders due to the potential cost savings and synergies resulting from combining the two operations. In addition, the Company should benefit from the lower tax rate achieved by the combined company being incorporated in Switzerland; PNR is now incorporated in Minnesota. The deal should result in PNR having a high-single billion dollar market cap, more than double the current equity value."
PNR recently announced transaction where Tyco (NYSE: TYC) would merge its Flow Control business with PNR in a tax-free spin-off.
For an analyst ratings summary and ratings history on Pentair click here. For more ratings news on Pentair click here.
Shares of Pentair closed at $37.35 yesterday, with a 52 week range of $29.73-$48.77.
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Analyst, Louis Meyer, said, "We believe merging the Flow Control business into PNR should benefit both sets of shareholders due to the potential cost savings and synergies resulting from combining the two operations. In addition, the Company should benefit from the lower tax rate achieved by the combined company being incorporated in Switzerland; PNR is now incorporated in Minnesota. The deal should result in PNR having a high-single billion dollar market cap, more than double the current equity value."
PNR recently announced transaction where Tyco (NYSE: TYC) would merge its Flow Control business with PNR in a tax-free spin-off.
For an analyst ratings summary and ratings history on Pentair click here. For more ratings news on Pentair click here.
Shares of Pentair closed at $37.35 yesterday, with a 52 week range of $29.73-$48.77.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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