Pentair Analysts Increase Their Forecasts Following Better-Than-Expected Q3 Results
Portfolio Pulse from Avi Kapoor
Pentair plc (NYSE:PNR) reported better-than-expected Q3 results, with net sales slightly above consensus and a significant rise in adjusted EPS. The company raised its FY24 adjusted EPS outlook and maintained its sales growth forecast. Analysts have increased their price targets for Pentair, reflecting positive sentiment despite a slight drop in share price.
October 23, 2024 | 6:25 pm
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Pentair reported better-than-expected Q3 results, with net sales and adjusted EPS surpassing consensus estimates. The company raised its FY24 adjusted EPS outlook, and analysts have increased their price targets, indicating positive sentiment. Despite this, shares fell 1.3%.
Pentair's Q3 results exceeded expectations, leading to raised price targets from multiple analysts. This typically indicates a positive short-term impact on stock price. However, the slight drop in share price suggests some market volatility or profit-taking.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100