Pentair (PNR) PT Raised to $122 at Mizuho

Mizuho analyst Brett Linzey raised the price target on Pentair (NYSE: PNR) to $122.00 (from $118.00) while maintaining a Outperform rating.

The analyst commented: 'Stock appropriately rallies back after underperforming in early trading. Results were fairly solid across the board vs. expectations in an otherwise volatile operating environment. EPS, margins and revenue beat. 3Q guide brackets consensus and the midpoint revised higher for the FY. We still see some conservatism in 2H. Pool price strong, but volume flat/down and not accelerating into 2H. Water Solutions core to be ~flat next Q, implying a significant ramp in 4Q. Food service end-market seeing weakness. Transformation savings remain on track. M&A pipeline beginning to pick up but leaning into repo. Divested KBI - focusing on higher margin businesses. Revising '25 EPS to $4.82 ($4.70 prior) / '26 EPS to $5.30 ($5.25 prior) on tariff relief. Raising PT to $122 (from $118) on EPS, higher multiples; reiterating Outperform rating."

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