Deutsche Bank Reiterates Buy on Cooper Industries (CBE)

Deutsche Bank is out with its report today on Cooper Industries

, reiterating Buy. In a note to clients, Deutsche Bank writes, "It is easy to build a case for $4+ EPS this year, and so we are now above the high-end of guidance - $3.83. We see further acceleration to $4.61 in 2012e, up 20% Y/Y as growth in Non-Resi/Resi Construction gains traction. We see several years of above-trend growth for CBE and believe that the stock deserves its modest premium valuation of 17x 2011e. Reiterate Buy and $69 PT (DCF: 9.5% WACC, 9x TEV EBITDA)." At the time of posting, shares of CBE were trading at $63.52, up 0.97% from Wednesday's close.