01:10 AM EDT, 05/21/2024 (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 raise our 12-month price target to $85 from $75, valuing PNR shares at 18x our 2025 EPS forecast of $4.74 (up from $4.59; 2024 EPS estimate adjusted to $4.22 from $4.17), slightly above the five-year forward average of 17.1x. We believe the higher multiple is warranted as PNR's portfolio has expanded into a broader set of water end markets, helping to reduce impacts from the company's short-cycle Pools business. PNR has executed well in recent years despite the cyclical downturn within the Pools segment, consistently beating earnings and sales quarter-after-quarter. Margins are benefiting from structural improvements in material sourcing, operational execution via automation, and organizational restructuring that we see supporting profitability through the business cycle. We upgrade our opinion on PNR to Hold from Sell as we consider the positive margin trajectory and ramping growth opportunities within water solutions, balanced by our view that shares are trading near fair value.