TD Cowen Upgrades Pentair to Hold From Sell, $55 Price Target

Pentair (PNR) rose 12.80% to $62.29 on October 27, 2026, its best day in over six years. The company reported Q3 sales of $976M, down 4%, and adjusted EPS of $1.18, beating estimates. Pentair acquired Taco Group, increasing exposure to data centers, though no specific revenue figures were provided. The stock is still 44% below its 52-week high. Pentair confirmed its full-year adjusted EPS guidance of about $4.70.

BNP Paribas Exane upgraded Pentair (PNR) to Neutral from Underperform, raising its price target to $65.00. The move follows Pentair's Q3 earnings beat, with adjusted EPS of $1.18 on revenue of $976 million. The firm cites a reset in expectations and balanced risk-reward, noting a 39.3% YTD decline but recent 18% rebound. Pentair expects mid-teens sales growth in 2027 and benefits from the Taco acquisition.

Pentair (PNR) reported completing its Pool channel inventory destock, estimating $280M in destocking over Q2 and Q3. The company expects 2026 Pool sell-through to rise 2-3% to $1.45B, with 2027 remaining flat. Pentair acquired Taco Group, expecting $560M in 2026 sales and $90M in EBITDA. The company reaffirmed its full-year adjusted EPS guidance of $4.70, with Q4 sales growth forecasted at 7-9%.

Pentair PLC (PNR) reported Q3 2026 adjusted EPS of $1.18, beating estimates. The company completed pool channel inventory destocking, positioning for 2027 growth. The Taco acquisition is expected to boost sales and EPS. Flow and Water Solutions segments showed sales and income growth with margin expansion. However, pool sales declined 18%, and full-year 2026 sales are expected to decrease ~3%. Pentair maintains a strong balance sheet and plans to deleverage within 24 months.

Pentair reported 3Q 2026 revenue of $976.4M, down 4.5% YoY, and net income of $145.1M, down 21.3% YoY. EPS was $0.91. Nine-month sales fell 6.6%, driven by lower Pool volume, while Flow sales rose 6.7%. The company acquired Taco on October 1, 2026.

Pentair (PNR) shares rose 13% after Q3 earnings beat estimates and the company reaffirmed its full-year adjusted earnings outlook. The stock hit a two-month high, outperforming the S&P 500.