Canaccord Genuity Maintains a 'Hold' on Pentair (PNR); Q2/11 Review
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Price: $64.67 +1.40%
Rating Summary:
17 Buy, 15 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
17 Buy, 15 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Canaccord Genuity maintains a 'Hold' on Pentair (NYSE: PNR) price target of $42.00.
Canaccord analyst, John Quealy, says, "Pentair reported solid Q2/11 results, with volume, price and productivity overcoming inflationary pressures. Fast growth geographies were again the stand-out (+55% y/y, bolstered by addition of CPT), while we expect the upcoming investor day (September 14) to provide important visibility into current growth initiatives."
"Our longer-term outlook stays positive (even as near-term macro risks pick up), as we continue to like management’s focus on international expansion and technology-focused growth areas. Maintain HOLD as risk/reward appears appropriately balanced, in our view...Our estimates adjust slightly to account for reported results and finalized CPT transaction details. Specifically, F2011 goes to $3.50B/$2.48 from $3.47B/$2.45. F2012 remains at $3.73B/$2.77."
For more ratings news on Pentair click here and for the rating history of Pentair click here.
Shares of Pentair closed at $38.90 yesterday.
Canaccord analyst, John Quealy, says, "Pentair reported solid Q2/11 results, with volume, price and productivity overcoming inflationary pressures. Fast growth geographies were again the stand-out (+55% y/y, bolstered by addition of CPT), while we expect the upcoming investor day (September 14) to provide important visibility into current growth initiatives."
"Our longer-term outlook stays positive (even as near-term macro risks pick up), as we continue to like management’s focus on international expansion and technology-focused growth areas. Maintain HOLD as risk/reward appears appropriately balanced, in our view...Our estimates adjust slightly to account for reported results and finalized CPT transaction details. Specifically, F2011 goes to $3.50B/$2.48 from $3.47B/$2.45. F2012 remains at $3.73B/$2.77."
For more ratings news on Pentair click here and for the rating history of Pentair click here.
Shares of Pentair closed at $38.90 yesterday.
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