Pentair (PNR) NewsBite - PNR Upgraded By KeyBanc Capital Markets

Posted: Wednesday, October 21, 2009 1:45 PM EDT

Pentair (PNR) was upgraded today by analysts at KeyBanc Capital Markets and the stock is now at $33.83, up $1.27 (3.9%) on volume of 505,575 shares traded. The analysts upped the stock to Buy from Hold. Over the last 52 weeks the stock has ranged from a low of $17.23 to a high of $33.92. Pentair stock has been showing support around $29.89 and resistance in the $34.29 range. Technical indicators for the stock are neutral and S&P gives PNR a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on PNR the stock seems like it could be a candidate for a February out-of-the-money bull-put credit spread below the 30 range. [ABR-Seven Summits Strategic Investments NewsBite]

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