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UPDATE: KeyBanc Initiates Pool Corporation at Buy on Growth Outlook

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KeyBanc initiated coverage on Pool Corporation (NASDAQ: POOL) with a Buy rating and a $49 price target.

KeyBanc commented, "POOL distributes pool products in the United States, an attractive industry characterized by: 1) stable maintenance spending (70% of sales); 2) cyclical upside from deferred and new demand; and 3) a broadening product offering, that historically achieves twice the industry growth rate. We think the premium valuation is justified given POOL's recovery prospects as consumers revert to buying higher ticket items."

Pool Corporation closed at $40.10 on Friday.

Latest Ratings for POOL

DateFirmActionFromTo
Nov 2014KeyBancDowngradesBuyHold
Feb 2014WunderlichMaintainsBuy
Nov 2013Stephens & Co.Initiates Coverage onOverweight

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Posted-In: KeyBancAnalyst Color Initiation Pre-Market Outlook Analyst Ratings

 

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