UPDATE: Jefferies Reiterates Buy Rating, Raises PT on Pentair

In a report published Wednesday, Jefferies reiterated its Buy rating on Pentair

, and raised its price target from $54.00 to $63.00. Jefferies noted, “Further to our earnings note on 1/29/31, we believe conference call comments offered a mix of incremental positives and negatives, leaving the earnings report largely benign. We expect 20%+ earnings growth in the next 3 years.” Pentair closed on Tuesday at $51.35.