Valspar (VAL) Underappreciated, Says Goldman

December 21, 2012 12:39 PM EST
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Price: $107.51 -0.23%

Rating Summary:
    3 Buy, 11 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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The Valspar Corporation (NYSE: VAL) stock is higher by 60 percent this year. Despite this, analysts at Goldman Sachs think it is "underappreciated".

"Despite its impressive run, we still see further upside potential in VAL as global macro conditions improve and VAL further penetrates international markets," said analyst Robert Koort.

Kort thinks investors appreciate VAL's exposition to a U.S. housing recovery, but fail to recognize that 46 percent of VAL's sales are outside the US, including 22 percent from China and Australia where conditions are expected to gain momentum as 2013 unfolds.

Goldman Sachs maintained a Neutral rating on Valspar (NYSE: VAL) and raised its price target to $66.00 (from $58.00).

For an analyst ratings summary and ratings history on Valspar click here. For more ratings news on Valspar click here.

Shares of Valspar closed at $62.25 yesterday.

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