Pentair price target raised to $87 from $78 at RBC Capital

RBC Capital raised the firm’s price target on Pentair to $87 from $78 and keeps an Outperform rating on the shares ahead of its analyst day this week. The firm expects the company to give an update on its transformational initiatives, end market demand, and capital allocation priorities, and consistent with its upgrade back in January, RBC believes that the “outstanding” margin target of 23% by 2025 is conservative and could be tweaked higher, the analyst tells investors in a research note.