Market Overview

UPDATE: Citigroup Reiterates Buy Rating, Raises PT on Pentair

Share:
Related PNR
Pentair Provides Upbeat Outlook
Earnings Scheduled For July 28, 2016
Pentair's (PNR) CEO Randall Hogan on Q2 2016 Results - Earnings Call Transcript (Seeking Alpha)

In a report published Wednesday, Citigroup reiterated its Buy rating on Pentair (NYSE: PNR), and raised its price target from $44.00 to $49.00.

Citigroup noted, “We are increasing our target price from $44 to $49 to reflect our shift in our sector valuation. We continue to assume the large-cap MI-EE group should trade for 14.0x EPS, but are now applying this to our 2013 EPS estimate including $0.36 of Tyco Flow accretion instead of the blend of 2012/2013 that we used previously. Our PNR target continues to assume the shares trade for a 5% premium to the target group multiple, near the midpoint of its (5%) to 15% historical relative range.”

Pentair closed on Tuesday at $43.41.

Latest Ratings for PNR

DateFirmActionFromTo
Jul 2016Vertical ResearchAssumesHold
Jun 2016Seaport GlobalUpgradesNeutralBuy
Apr 2016UBSUpgradesNeutralBuy

View More Analyst Ratings for PNR
View the Latest Analyst Ratings

Posted-In: CitigroupAnalyst Color Price Target Analyst Ratings

 

Related Articles (PNR)

View Comments and Join the Discussion!