Pentair price target raised to $99 from $88 at Oppenheimer

Oppenheimer raised the firm’s price target on Pentair to $99 from $88 and keeps an Outperform rating on the shares following quarterly results. Balancing solid Q1 results, strong execution across all three segments, and continued macro uncertainty, management conservatively reiterated 2024 revenue guidance of +2%-3% with adjusted EPS projected at $4.15-$4.25.