UPDATE: Deutsche Bank Raises PT to $75 on Ecolab Post Solid Q1

Deutsche Bank raises its price target from $70 to $75 on Buy-rated Ecolab

following a Q1 EPS beat and a reaffirmed guidance for 2012. Deutsche Bank says, "Ecolab had a solid Q1 with EPS beating by $0.02 and reaffirming '12 guidance ($2.95-$3.05 vs cons of $3.02). Despite Q2 guidance ($0.69-$0.72) being a touch below consensus ($0.73), trends remain broadly positive across the portfolio excluding continuing weakness in Europe and Asia which is impacting growth in Int'l and Paper. However, with underlying US growth accelerating Q2 thru Q4 as pricing offsets raw materials and synergies ($75MM in '12) take hold, we believe guidance and our $3.00 '12 EPS estimate will ultimately prove conservative." ECL closed at $64.34 on Tuesday.