Pentair (PNR) PT Raised to $80 at RBC Capital Following 3Q
RBC Capital raised its price target on Pentair (NYSE: PNR) to $80.00 (from $78.00) while maintaining a Outperform rating following ht e company's 3Q. Pentair posted a remarkably uneventful 2c 3Q17 EPS beat and 3c full-year EPS guidance boost, with mostly asexpected operating results, including better margins offsetting softer organic growth.
Pentair reiterated its desire to shift its mix away from municipal desal applications towards industrial wastewater treatment, which generates more favorable margins.