Loading...
Loading...
Citigroup maintains its Buy rating on Pentair
PNR and lowers its price target to $42 from $45 as 4Q11 and 2012 guidance fell short of expectations.
Citi says, “The two primary sources of the near-term operating softness are macro-driven, including Europe (15% of sales) slowing and destocking in the resi water components. We are trimming our 2011/2012 EPS estimates by 6c/20c to $2.40/$2.65 and are reducing our price target by $3 to $42 on the more modest outlook.”
PNR closed at 33.92 per share on Wednesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in