Loop Capital upgrades Pool Corp. to Buy, sees FY23 better than expected

Loop Capital analyst Garik Shmois upgraded Pool Corp. to Buy from Hold with a price target of $415, up from $395, as part of a broader research note. The firm’s latest pool survey indicated an FY23 outlook that was better than expected, and with the stock down 25% since recent highs in early February, the pullback offers a good buying opportunity, the analyst tells investors in a research note. The firm adds that Pool Corp’s valuation implies meaningful downside to estimates from current levels, even though the company is expected to reiterate its guidance.