KeyBanc analyst Jeffrey Hammond downgraded Pentair (PNR) to Sector Weight from Overweight without a price target The firm sees risk to pool recovery momentum in 2025 given a “stubbornly high” interest rate environment. This will continue to hold back new pool and remodel and upgrade investment, the analyst tells investors in a research note. KeyBanc says that while Pentair’s transformation progress “has been impressive,” it believes the market is more fully discounting this opportunity at this point.
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