William Blair Increasing Estimates On Multi-Color Corporation (LABL)

William Blair is maintaining its Outperform rating on shares of Multi-Color Corporation

after the company reported better than expected quarterly earnings. In the research report to its clients, William Blair notes, "We are cautiously optimistic that revenues will continue to grow organically in fiscal second quarter 2011, assuming the economy continues on a somewhat steady pace. The company has now finished lapping the bulk of the Miller impact and the renegotiated pricing arrangements with the company’s top customers. In addition, volume from its largest customer (P&G) is up, and we believe the company will also be coming off of an anticipated bottom in the wine export market for larger Australian brands." Shares of Multi-Color Corp. closed at $12.86 on Friday.