Canaccord Genuity Maintains a 'Hold' on Pentair (PNR); Mixed Qtr; Merger Looms; Catalyst Unlikely
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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 of $45.00.
Analyst, John Quealy, said, "A mixed quarter overall (lower revs, stronger operating performance), although we find results de-emphasized given the pending Tyco Flow merger (on track for close by end of September). While we view the transaction as a transformational strategic move, we maintain our rating as catalysts into the close are unlikely (and we await full details at the investor day expected later in ‘12)."
"Our estimates (incl. Tyco (NYSE: TYC)) adjust as follows: 2012 to $4.58B/ $2.73 (from $4.65B/$2.75); 2013 to $8.1B/$3.32 (from $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 $41.46 yesterday.
Analyst, John Quealy, said, "A mixed quarter overall (lower revs, stronger operating performance), although we find results de-emphasized given the pending Tyco Flow merger (on track for close by end of September). While we view the transaction as a transformational strategic move, we maintain our rating as catalysts into the close are unlikely (and we await full details at the investor day expected later in ‘12)."
"Our estimates (incl. Tyco (NYSE: TYC)) adjust as follows: 2012 to $4.58B/ $2.73 (from $4.65B/$2.75); 2013 to $8.1B/$3.32 (from $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 $41.46 yesterday.
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