Zacks Investment Research upgraded shares of Pool Corp. (POOL) from UNDERPERFORM to NEUTRAL on September 17, 2013, with a target price of $58.00.
We are reverting to a Neutral recommendation on Pool from Underperform on the back of the company's solid long-term prospects. The solid momentum in the Green business, which was once struggling, will augur well for the company going ahead. The potential for market share gain is significant. The company expects market conditions to improve beyond 2013. Pool's ability to grow earnings per share more than 20% over the past three consecutive years in a row amid a tough business environment indicates its fundamental strength. However, weak seasonality in the second half of the year prevents us from being too optimistic on the company and keeps us on the sidelines at the current level.
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