Canaccord Genuity Reiterates Hold On Pentair Shares, $67 PT


In a research report issued today, Canaccord Genuity analyst John Quealy reiterated a Hold rating on Pentair (NYSE:PNR) with a price target of $67.00.

Quealy wrote, “While demand trends stay variable near term, productivity and margin expansion potential remain the focus and driver of longer-term value. We expect shares to stay range-bound as investors await better growth trends. Pentair will report Q3/14 results before the open on 10/21 (call at 9 AM ET). We model revs/adjusted EPS at $1.77B/$0.93 vs. the Street at $1.78B/$0.94 (and guidance at ~$1.76B/$0.93-0.95). Near term likely stays in transition, as end-markets stay mixed overall and management makes the strategic decision to exit the struggling Water Transport business. Out-year targets have been reset (~$4.50 in ’15), as focus remains on productivity initiatives into the annual year-end investor day.”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst John Quealy has a total average return of 20.8% and a 48.7% success rate. Quealy is ranked #82 out of 3336 analysts.

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