Pentair price target raised to $88 from $82 at Oppenheimer

Oppenheimer raised the firm’s price target on Pentair to $88 from $82 and keeps an Outperform rating on the shares. The firm came away incrementally from the company’s update confident in Pentair’s +LDD core earnings trajectory, with transformation initiatives and accretive capital deployment driving material upside. Given Pentair’s increasingly viable path to solidly over $6.00 EPS over the medium term, steady improvements in portfolio quality, and supportive run-rate PNR valuation, Oppenheimer remains bullish on the name.