UPDATE: Wedbush Raises PT on Nalco Holding to $35

Wedbush is out with its report on Nalco Holding NLC, raising its PT from $34 to $35. In a note to clients, Wedbush writes, "With margin recovery underway and continued strength in the company's top-line, we view multiples on 2012 as much more realistic and are modestly raising our price target to $35 from $34." Shares of NLC closed Friday at $28.62.