UPDATE: KeyBanc Initiates Pool Corporation at Buy on Growth Outlook
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
|Feb 2017||Baird||Upgrades||Market Perform||Outperform|
|Aug 2016||Wedbush||Initiates Coverage on||Outperform|
|Jul 2016||Johnson Rice||Downgrades||Buy||Accumulate|
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.