Deutsche Bank Lifts Price Target On Valspar (VAL)

Deutsche Bank raised its price target on Valspar (NYSE: VAL) from $33 to $39 following Q4 results and solid FY12 guidance but kept its Hold rating.

The firm comments, "With the raw material environment likely to be less severe in in '12 (+5% est.) than '11 (+15%), we expect Valspar will close the remainder of its '11 raw material gap (vs price) of $25-$38MM, or $0.18-$0.27/share, and cover all '12 increases as well. Despite demand in China tracking well, with volume growth likely to remain tepid amid a sluggish economic environment in North America and Europe and valuation fair at 12x '12E EPS, Hold."

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 $33.72 yesterday.

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