UPDATE: Deutsche Bank Raises PT on P.H. Glatfelter Company Following Dresden Acquisition

In a report published Wednesday, Deutsche Bank analyst Mark Wilde reiterated a Buy rating on P.H. Glatfelter Company GLT, and raised the price target from $21.00 to $26.00. In the report, Wilde noted, “We are boosting our estimates for Glatfelter and raising our price target from $21 to $26/share after incorporating the highly-accretive Dresden acquisition into our model. Our 2013 & 2014 EPS estimates are increased from $1.30 & $1.55 to $1.42 & 1.80, respectively. Our BUY rating is based on attractive valuation and continued transition in GLT's business profile. As GLT's portfolio migrates from mature paper markets and into more specialized fiber-based products with above-trend growth potential, we believe there is room for gradual multiple expansion. Maintain Buy.” P.H. Glatfelter Company closed on Tuesday at $23.12.