Rosenblatt Starts Pentair (PNR) at Buy
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Rosenblatt analyst Scott Graham initiates coverage on Pentair (NYSE: PNR) with a Buy rating and a price target of $54.00.
The analyst commented, "We are initiating coverage of PNR with a Buy rating and $54 PT. We expect PNR to shake off a difficult 2019 and drive earnings growth of +9% in 2020-21. More focused organic sales and margin-driving restructuring and productivity strategies should better read through with last year's excess channel inventory moving behind the company. We particularly favor how PNR is investing in technology and end-user preferences in its best businesses."
Shares of Pentair closed at $45.84 yesterday.
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