Deutsche Bank Upgrades Ecolab Inc. (ECL) to Buy; Wetter but Stronger

Deutsche Bank upgraded Ecolab Inc. (NYSE: ECL) from Hold to Buy with a price target of $55.00.

Deutsche analyst says, "Our meeting this week with CEO Doug Baker increased our confidence that Ecolab's proposed $7.5B acquisition of Nalco has the potential to be a growth accelerant for the combined company with near (legacy) Ecolab-like earnings consistency and predictability. With the Nalco acquisition price coming down (by $400MM - lower ECL share price, lower interest cost) and Ecolab's 15.4x 2012E EPS its lowest valuation since the 1990s (ex March 2009), we are upgrading Ecolab."

For more ratings news on Ecolab Inc. click here and for the rating history of Ecolab Inc. click here.

Shares of Ecolab Inc. closed at $47.78 yesterday.

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