Goldman Sachs Reiterates PNR Sell Rating

Goldman Sachs has issued a report maintaining Pentair Inc.'s PNR Sell Rating following an agreement to acquire Norit Clean Process Technologies CPT. Goldman Sachs writes, "While PNR only expects ROIC to reach 10% by 2014, including favorable tax benefits, we believe the proposed acquisition has strategic merit. CPT's leading position in filtration should increase PNR's presence in higher value- add water systems and further diversifies away from US resi pumps." PNR closed yesterday at $38.50 a share.