UPDATE: Deutsche Bank Raises Ecolab's PT

According to a research report published earlier today, Deutsche Bank has increased Ecolab's ECL PT from $10 to $70. Deutsche Bank said in the report, “Ecolab shares fell 1% following its Q4 release, in our view, due to a back-end loaded '12 outlook. While Q1 EPS guidance of $0.46-$0.49 is low due to seasonally softer demand and raw material headwinds in Europe, we expect earnings to accelerate as '12 progresses. With Ecolab more than offsetting higher raw materials costs with pricing, merger synergies ($75MM, or $0.17) and European transformation, we remain confident there is upside to the company's $3 EPS target for ‘12. With valuation a fair 20.6x '12E EPS, reiterate Buy.” Ecolab is currently trading at $60.26.