Credit Suisse Raises VAL Target To $39 From $37

Credit Suisse is raising its 12-month price target on shares of Valspar Corporation VAL to $39 (from $37), “which is based on an 8.2X EBITDA multiple on our 2012 estimates (with free cash going toward reducing net debt in the calculation for the valuation).” Overall, Credit Suisse said that it is maintaining its Neutral rating because “while the upside is solid, it is roughly in line with our expectations for the group.” Valspar Corporation currently trades at $34.89.