Canaccord Genuity Maintains a 'Hold' on Pentair (PNR); Teaming Up With Tyco (TYC)
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Price: $64.40 +0.97%
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 raised from $37 to $50.
Analyst, John Quealy, said, "We like the merger of Tyco’s (NYSE: TYC) Flow business with Pentair, as the value proposition looks very attractive (even before potential upside from cross-selling synergies). Given what we view as a transformational strategic move and our preliminary analysis of the “new” Pentair, our target goes to $50. That said, we maintain our rating as we believe the stock move (up~15%) captures much of the value into the Sep. close."
"Our preliminary math (and estimates) suggest sales of ~$8.2B in ’13, driving
adjusted EPS of ~$3.36 and EBITDA of ~$1.33B."
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 $46.32 yesterday.
Analyst, John Quealy, said, "We like the merger of Tyco’s (NYSE: TYC) Flow business with Pentair, as the value proposition looks very attractive (even before potential upside from cross-selling synergies). Given what we view as a transformational strategic move and our preliminary analysis of the “new” Pentair, our target goes to $50. That said, we maintain our rating as we believe the stock move (up~15%) captures much of the value into the Sep. close."
"Our preliminary math (and estimates) suggest sales of ~$8.2B in ’13, driving
adjusted EPS of ~$3.36 and EBITDA of ~$1.33B."
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 $46.32 yesterday.
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