Stifel analysts increased their price target for Pool Corp (NASDAQ:POOL) to $335 from $310, while maintaining a Hold rating on the stock. The analysts highlighted Pool Corp's strong positioning in the U.S. pool market, with a 37% market share in wholesale distribution, and its significant resources to further solidify its leadership.

However, they cautioned that while expectations have been adjusted to reflect fiscal 2024 challenges, the company's current valuation leaves little room for error, particularly given a potentially muted recovery and elevated expenses.

The analysts believe that Pool Corp's stock is likely to remain range-bound, influenced by interest rate sentiment, with stability in 2024 being crucial for sustained investor interest.