Apr. 10 at 3:05 PM
$POOL I like Pool Corporation’s fundamentals—their track record is strong, the balance sheet is solid, and the business has clear moat-like qualities with attractive long-term prospects.
That said, in the medium term, I don’t see a strong reason to be bullish. Interest rates are likely to remain elevated longer than expected, which will continue to weigh on new pool construction and near-term growth.
For long-term investors, this looks like a reasonable entry point. Personally, though, I think the macro environment could create a better opportunity to enter at a more attractive valuation.
This one is a Hold for me on the watch list for now. But I do want to own the stock.
