-- 独立研究机构CFRA向提供了以下研究报告。CFRA分析师总结如下：在PNR公布第一季度财报后，我们将12个月目标价从130美元下调至115美元，该估值基于我们2027年每股收益预期5.91美元（下调0.01美元；2026年每股收益预期与此前预测一致），市盈率为19.5倍，略高于公司历史平均市盈率。我们认为，鉴于PNR在水技术领域的多元化投资组合策略能够降低盈利波动性，这一溢价是合理的。虽然第一季度业绩符合我们的预期，但有机销售增长令人担忧，因为管理层警告称，泳池业务即将进行渠道库存调整。鉴于该业务板块盈利能力领先，任何销售额或产品组合的下滑都可能对整体利润率造成压力。尽管面临泳池业务的不利因素，我们预计PNR的利润率仍将保持上升趋势，因为流量和水处理解决方案业务将通过有针对性的生产力提升计划和定价策略来提高利润率。我们认为第一季度的不利因素已反映在股价中，因此重申我们的“强烈买入”评级。
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