12:30 AM EDT, 04/24/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We keep our 12-month target of $75, valuing PNR shares at 16.4x our 2025 EPS of $4.59 (in line with previous forecast; 2024 EPS estimate lifted by $0.02 to $4.17), near PNR's five-year forward average. PNR posted Q1 operating EPS of $0.94 (up 4% Y/Y), $0.04 above the consensus outlook. Q1 sales declined 1% Y/Y, with pricing contributions being more than offset by falling volumes across each of PNR's business segments. While top-line performance is hitting a cyclical rough patch, traction on cost transformation and pricing initiatives are enabling a higher degree of margin quality. Adjusted operating margins widened by 90 bps Y/Y to 21.4%, which informs our view that PNR is on track to reach its 2026 target of ~24%. Looking ahead, Q2 will be an important quarter for PNR as Y/Y Pools revenue is expected to flip to growth and drive overall sales higher for the year. If sentiment sours among customers on sticky inflation and higher for longer rates, then the recovery in Pools could be underwhelming, in our view.