Pentair Inc. (NYSE: PNR) is a diversified industrial manufacturing stock that makes products and systems used in the movement, storage, and treatment of water. In a separate business division Pentair also manufactures custom enclosures that house sensitive electronics.
S&P upgraded PNR to a 5-Star “Strong Buy” with a 12-month target of $48. Technically PNR is in a powerful bull trend. After retreating to its bullish support line in June it resumed its advance. Heavy buying continues to support the bull trend, and so the “stairsteps” are likely to accompany the stock to new highs. I have recommended PNR stock several times this year, most recently on April 7, and on each occasion the stock has rewarded us with a new high.
The target for Pentair stock is still $50.
- Serge’s outlook for today: Small Cap Stocks are Leading the Rally
- Serge’s trade of the day: Coca Cola (NYSE:KO)
- Sam’s outlook for today: Forget Greece – Low Volume the Scary Story