Oppenheimer analyst Bryan Blair maintained a Hold rating on Pentair (PNR) yesterday. The company’s shares closed yesterday at $42.23.
Blair said:
“We recently met with CFO Mark Borin, with discussion spanning post-spin performance (broadly successful Year 1, in our view), strategic priorities (consistent messaging), and the realistic longer-term composition of the New Pentair. We came away incrementally confident in PNR’s execution story, with its defensive demand characteristics, ongoing/targeted growth investments, and PIMS-driven efficiency gains supporting long-term targets of +2-4% core growth, +6-8% segment income expansion, and +8-10% EPS CAGR (strategic M&A affording upside). We believe current valuation (~13x EV/EBITDA) fairly captures PNR’s near-term outlook, awaiting further traction on organic and inorganic strategies (confidence in sustainable +HSD/ LDD EPS trajectory) and/or a pullback of shares to get constructive.”
According to TipRanks.com, Blair is a 2-star analyst with an average return of 0.1% and a 58.1% success rate. Blair covers the Industrial Goods sector, focusing on stocks such as Carlisle Companies Incorporated, Watts Water Technologies, and Mueller Water Products.
Currently, the analyst consensus on Pentair is a Hold with an average price target of $44, representing a 4.2% upside. In a report issued on January 30, Morgan Stanley also maintained a Hold rating on the stock with a $42 price target.
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The company has a one-year high of $49.07 and a one-year low of $35.30. Currently, Pentair has an average volume of 1.59M.
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Pentair Plc engages in the provision of water solutions for residential, commercial, industrial, infrastructure, and agriculture applications. Its portfolio of solutions enables people, businesses, and industries to access clean, safe water, reduce water consumption, and recover and reuse it.
