Pool Corp. price target raised to $436 from $407 at Oppenheimer

Oppenheimer raised the firm’s price target on Pool Corp. to $436 from $407 and keeps an Outperform rating on the shares after conducting investor meetings with CFO Melanie Hart following the company’s well-delivered Investor Day. The firm believes industry leader Pool is well positioned to benefit from a consistently increasing installed base of U.S. in-ground pools, need for renovation of an aging existing base of pools, and recurring pool maintenance offering demand. Pool’s recent meetings covered a wide array of topics, and a highlight was the company’s technology investments to drive incremental revenue, as it has evolved its growing Pool360 mobile ordering platform with new digital innovations. Oppenheimer estimates Pool returns to adjusted EPS growth in 2024 following a 2023 trough post elevated 2020-2022 growth.