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Mizuho analyst Brett Linzey upgraded Pentair PLC (NYSE: PNR) to Neutral from Underperform and raised the price target to $62 (an upside of 7%) from $60. The company's purchase of Manitowoc Ice business for a net price of $1.38 billion strengthens its commercial water franchise and should be meaningfully accretive to margins, states Linzey. Pentair recently agreed to acquire Manitowoc Ice, a provider of commercial ice makers from Welbilt, Inc (NYSE: WBT), for $1.6 billion or a net transaction value of ~$1.38 billion (adjusted for after-tax ...Full story available on Benzinga.com

Related tickers: PNR, WBT.

Pentair's (PNR) buyout deal is likely to be accretive to current-year earnings with an expected strong revenue synergy.

Related tickers: SLGN, DOV, PNR, WBT.