Pentair price target raised to $71 from $69 at Stifel

Stifel analyst Nathan Jones raised the firm’s price target on Pentair to $71 from $69 and keeps a Buy rating on the shares. The firm’s positive thesis on the company is that investor concerns over the decline in pool and residential water treatment should come to an end in the upcoming quarters and investors can then focus on return to growth and transformation savings, the analyst tells investors. After the company reported its Q1 results, Stifel believes this thesis remains intact.