UBS Maintains a 'Neutral' on Pentair (PNR); Fighting A Tide Of Weak(ening) End Markets
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Price: $66.16 --0%
Rating Summary:
17 Buy, 15 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 10 | Down: 16 | New: 19
Rating Summary:
17 Buy, 15 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 10 | Down: 16 | New: 19
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UBS maintains a 'Neutral' on Pentair (NYSE: PNR) price target lowered from $35 to $33.
UBS analyst says, "Cuts to the outlook on Europe weakness are not a shock given known macro deterioration, especially in more discretionary residential water segments such as softeners. We’re encouraged that pricing is ramping, commodities are moderating and PNR is dialing up cost initiatives, which might even ratchet higher. The challenge is we see downside risk to the muni, consumer/housing demand outlook."
"Key estimate revisions: Weaker revenue and margin outlook - Our estimate cuts primarily reflect weaker residential water assumptions. De-stocking in the US and Europe is an assumed driver but we also think consumer end markets thought to have bottomed are weakening, albeit at what seems to be a modest pace. Our margin assumptions come down on the weaker volume outlook." (UBS lowers FY12 EPS from $2.76 to 2.65)
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 $33.54 yesterday.
UBS analyst says, "Cuts to the outlook on Europe weakness are not a shock given known macro deterioration, especially in more discretionary residential water segments such as softeners. We’re encouraged that pricing is ramping, commodities are moderating and PNR is dialing up cost initiatives, which might even ratchet higher. The challenge is we see downside risk to the muni, consumer/housing demand outlook."
"Key estimate revisions: Weaker revenue and margin outlook - Our estimate cuts primarily reflect weaker residential water assumptions. De-stocking in the US and Europe is an assumed driver but we also think consumer end markets thought to have bottomed are weakening, albeit at what seems to be a modest pace. Our margin assumptions come down on the weaker volume outlook." (UBS lowers FY12 EPS from $2.76 to 2.65)
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 $33.54 yesterday.
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