Pentair Analysts Increase Their Forecasts After Upbeat Earnings
Portfolio Pulse from Avi Kapoor
Pentair plc (NYSE:PNR) reported better-than-expected Q2 2024 financial results, leading to an increase in its FY24 adjusted EPS guidance. Analysts have raised their price targets for the stock following the announcement.
July 24, 2024 | 1:13 pm
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Pentair reported better-than-expected Q2 2024 results, with net sales of $1.099 billion and adjusted EPS of $1.22. The company raised its FY24 adjusted EPS guidance to $4.25, above the consensus of $4.18. Analysts have increased their price targets for the stock.
Pentair's better-than-expected Q2 results and raised FY24 EPS guidance are positive indicators for the stock. The increase in price targets by analysts further supports a positive short-term outlook. The 9% increase in share price reflects investor confidence.
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IMPORTANCE 90
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