According to Wedbush, Pentair (NYSE:
PNR) presents a buying opportunity.
Wedbush said that it believes concerns about the guidance for slower growth in Q3 are placing undue pressure on PNR shares as investors overlook a solid, in-line quarter and upbeat full-year guidance that reflects a strong second half. “Recent trends in the Norit Clean Process Technologies (
CPT) provide us comfort in its more heavily weighted Q4 results, despite more seasonality than earlier anticipated.”
Pentair closed yesterday at $38.90.
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