Piper Jaffray Overweight On Pentair

Piper Jaffray has an Overweight rating and a $43 price target on Pentair, Inc. PNR. In a note sent to investors Piper Jaffray writes, "We continue to recommend PNR shares for 1H11 outperformance. We believe initial 2011 guidance is unlikely to be a catalyst for the stock, but historically PNR shares have outperformed in the first half of the calendar year as investors anticipate the seasonal ramp in Pentair's business." Shares of PNR gained 58 cents yesterday to close at $34.85.