UPDATE: Loop Capital Starts Pentair (PNR) at Buy

November 22, 2021 4:40 PM EST
Get Alerts PNR Hot Sheet
Price: $76.34 -0.6%

Rating Summary:
    12 Buy, 20 Hold, 3 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 9 | Down: 11 | New: 61
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(Updated - November 22, 2021 4:41 PM EST)

Loop Capital analyst Scott Graham initiates coverage on Pentair (NYSE: PNR) with a Buy rating and a price target of $105.00.

The analyst comments "We are initiating coverage of PNR with a Buy rating and $105 PT. Since the spin-out of nVent in 2018, management has been upgrading the business model around sales, investments and margins. Long gone are the days of casting unrealistically wide sales nets and over-promising. Today’s PNR is customer centric, uses company-wide gating to invest in its best businesses and focuses on sales conversion into earnings. Management is all about providing guidance and hitting or beating it. PNR has since delivered earnings at a CAGR of 14%. It’s now refining its initiatives. We expect Residential macro market activity to slow but believe management’s transformation strategies will continue to deliver consistent earnings growth. Yet, the stock is trading like the old PNR, not the new."

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 $79.34 yesterday.

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