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Fly News Breaks for January 15, 2020
PNR
Jan 15, 2020 | 20:05 EDT
Goldman Sachs analyst Brian Lee upgraded Pentair to Buy from Neutral with a price target of $54, up from $42. The analyst believes that "cyclical dynamics" are beginning to favor the residential end market for the first time in a while as water spending trends inflect positively. Lee also anticipates the healthier backdrop for housing starts since the second half of 2019 to bode positively for the smart water solutions vertical going into 2020.