JPMorgan analyst Stephen Tusa raised his price target for Pentair to $50 from $45 saying the company is his top mid cap story "into the next several years." Pentair offers a "consumer slanted name at which underappreciated headwinds in 2018/2019 flip, with balance sheet optionality the kicker," Tusa tells investors in a research note. He believes a "combination of improvement in historically proven drivers, price and net productivity as visible investments level off, set the stage for well above average margin expansion." The analyst keeps an Overweight rating on Pentair.

RBC Capital analyst Deane Dray raised the firm's price target on Pentair to $103 from $101 and keeps an Outperform rating on the shares. The company's earnings quality was good, and the firm still expects upside in Pool business this year, the analyst tells investors in a research note. RBC further notes that the Pool channel inventory has reset, and Pentair is building inventory ahead of what it expects will be a solid 2Q24 pool-opening season.

Sees Q2 revenue growth 1%-2% vs. last year, consensus $1.12B.