Citi Maintains Buy on Pentair

Citi is out with its report today on Pentair (NYSE: PNR), maintaining Buy.

In its report, Citi writes, "We rate Pentair a Buy / Medium Risk (1M). Moving aggressively beyond leadership in pumps and pools, Pentair has been ambitiously targeting more high-end, global water treatment markets, like water reuse and point-of-use, and agriculture. We like the game plan, the announced acquisition of Norit's filtration business, and management know-how."

Citi maintains a $37 PT on PNR.

At the time of posting, shares of PNR were trading pre-market at $33.78, up 1.38% from Wednesday's close.