UPDATE: Stifel Reiterates Buy Rating, Raises PT on Pentair Ltd. on Different Route to 2015 EPS Target

In a report published Wednesday, Stifel analyst Nathan Jones reiterated a Buy rating on

, and raised the price target from $80.00 to $82.00. In the report, Stifel noted, “Pentair held its annual guidance call December 17th without a lot of surprises, in our view. The company reaffirmed its 2015 EPS target of $5, which now seems more assured with an $80 million increase in the targeted synergies to $310 million in 2015. With the likelihood of further increases in the synergy targets alluded to on the call and the introduction of OMT (operating model transformation) the benefits, and elevated EPS growth, appear likely to continue well beyond 2015 in our opinion. We are raising our 2015 EPS forecast from $4.80 to $5.10 with increased confidence due to the elevated synergy target. We are also raising our target price from $80 to $82.” Pentair Ltd. closed on Tuesday at $72.83.