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In a report published Friday, Morgan Stanley analyst Charles A. Dan reiterated an Underweight rating and $67.00 price target on
ValsparVAL.
In the report, Morgan Stanley noted, “We are trimming our F14 estimates, as Paint margins are unlikely to expand by as much as we had forecast and traction with B&Q gets pushed further out. Expectations are likely still too high for F14-15. We do not believe the recent rally is justified by the fundamentals.”
Valspar closed on Friday at $75.08.
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