Pool Corp. price target raised to $404 from $368 at Baird

Baird raised the firm’s price target on Pool Corp. to $404 from $368 and keeps a Neutral rating on the shares. The analyst noted they reported weaker-than-expected results in the seasonally less significant fourth quarter. Baird said with reported margins near incremental margins, we see more modest secular earnings growth. Both these factors lead us to seek a more favorable risk/reward before turning more positive.