Pentair upgraded to Outperform from Sector Perform at RBC Capital

RBC Capital upgraded Pentair to Outperform from Sector Perform with a price target of $79, up from $75. The worst of the post-COVID tough pools comps and destocking “appear to have passed,” while self-help initiatives could drive an incremental 200 basis points of margin upside by 2025, the analyst tells investors. Potential positive catalysts may be coming from the March 6 analyst meeting, the analyst added.