Canaccord Genuity Maintains a 'Hold' on Pentair (PNR); Markets Mixed, But Merger Looming
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Price: $65.32 +2.41%
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 $50.00.
Analyst, John Quealy, said, "A mixed quarter overall (lower revs, solid operating performance), although we find results deemphasized given the pending Tyco merger (on track for close by end of Sept.). While we view the transaction as a transformational strategic move, we maintain our HOLD as much of the value into deal close looks to be captured (and catalysts seem unlikely)."
"Our estimates (including Tyco) are refined as follows: F2012 goes to $4.65B/
$2.75 from $4.68B/$2.61; 2013 remains at $8.2B/$3.36."
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 $44.05 yesterday.
Analyst, John Quealy, said, "A mixed quarter overall (lower revs, solid operating performance), although we find results deemphasized given the pending Tyco merger (on track for close by end of Sept.). While we view the transaction as a transformational strategic move, we maintain our HOLD as much of the value into deal close looks to be captured (and catalysts seem unlikely)."
"Our estimates (including Tyco) are refined as follows: F2012 goes to $4.65B/
$2.75 from $4.68B/$2.61; 2013 remains at $8.2B/$3.36."
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 $44.05 yesterday.
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