Market Overview

UPDATE: Deutsche Bank Reiterates Hold Rating, Raises PT on The Valspar Corporation

Share:
Related VAL
The Market In 5 Minutes: All Eyes On Apple's New iPhone And Ackman's New Chipotle Stake
Keep an Eye on These 10 Stocks for September 7, 2016

In a report published Wednesday, Deutsche Bank reiterated its Hold rating on The Valspar Corporation (NYSE: VAL), and raised its price target from $52.00 to $64.00.

Deutsche Bank noted, “5th straight year of 10%-plus EPS growth likely in '13. Valuation fair at 16.0x. Valspar shares rose 4% (vs S&P +0.1%) as impressive 5% volume growth in Coatings more than offset solid but in-line FQ4 results and 2013 guidance. Valspar is executing at a high level with EPS growth of 24% in 2012 marking its 4th consecutive year of double digit EPS growth. While we believe this track record will continue in 2013 (+14% est.) driven by higher volumes, higher prices, flat raw materials and productivity, we believe Valspar's valuation of 16.0x ‘13E EPS (vs SHW at 20.4x and PPG at 15.8x) largely reflects this improvement. With 7% upside to our $64 price target, we maintain our Hold.”

The Valspar Corporation closed on Tuesday at $60.08.

Latest Ratings for VAL

DateFirmActionFromTo
Sep 2016BarclaysMaintainsEqual-weight
Mar 2016NorthcoastDowngradesBuyNeutral
Mar 2016Longbow ResearchDowngradesBuyNeutral

View More Analyst Ratings for VAL
View the Latest Analyst Ratings

Posted-In: Deutsche BankAnalyst Color Price Target Analyst Ratings

 

Related Articles (VAL)

View Comments and Join the Discussion!