Pentair price target raised to $110 from $100 at Seaport Research

Seaport Research raised the firm’s price target on Pentair to $110 from $100 and keeps a Buy rating on the shares. Based on its recent check-in with the company and other end-market research, the firm slightly raised its 2H of 2024 and 2025 EPS forecasts, the analyst tells investors. While Seaport does see slower sales in Water Solutions and Flow, higher company margins and free-cash-flow should more than offset the effect. Additionally, with Pentair continuing to build a strong earnings track record, the firm believes the stock should be further rerated.