Jefferies Raises PT on NLC to $38.80

27% profit every 20 days?

This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.

Jefferies has issued a report raising the Price Target on Nalco Holding (NYSE: NLC) from $30 to $38.80 a share.According to the report, "Yesterday, Ecolab (ECL, $51.31, Hold) announced an $8.1bn offer to acquire Nalco. We are raising our price target to $38.80 to reflect the original offer price. In addition, Nalco preannounced Q2 EPS of $0.40 and raised the full year to $1.70 ($740m adjusted EBITDA), excluding merger-related expenses. We are raising 2011E EPS $0.10 to $1.70."NLC has a Hold Rating and closed yesterday at $28.87 a share.

27% profit every 20 days?

ENTER TO WIN $500 IN STOCK OR CRYPTO

Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!