Pool Corp. price target raised to $387 from $345 at KeyBanc

KeyBanc analyst Kenneth Zener raised the firm’s price target on Pool Corp. to $387 from $345 and keeps an Overweight rating on the shares. The firm’s Q4 Pool Equipment channel checks and meetings at the 2023 Pool & Spa Show depicted prudently cautious tones around the outlook for 2023 as de-stocking nears completion. While KeyBanc appreciates the likelihood of further slowing demand trends as consumer spending cracks continue to grow, it feels incremental risks are well-understood and embedded in current valuations. As such, the firm sees compelling entry points into an attractive long-term industry at current levels.