Nalco Holding (NYSE:NLC) Gets Bullish Outlook from Canaccord

Nalco Holding Co. (NYSE:NLC) continues to draw the admiration of Canaccord Genuity, which sees managment's execution of their strategy as impressive.

Canaccord says, "We stay bullish on Nalco’s growth strategy, despite rising commodity headwinds, as management’s execution remains impressive, in our view. We continue to favor Nalco’s growing presence in BRIC+, coupled with a focus on higher-value solutions (bolstered by attractive energy macro). We note this is the first quarter for new CFO Kathryn Mikells...We remain comfortable with our estimates and view consensus as achievable, forecasting revs/EPS of $1.055B/$0.37 vs. the Street at $1.07B/$0.41 (NLC will report Q4/10 after the close on Feb. 1)."

Canaccord Genuity reiterates a "Buy" rating on Nalco Holding Co. (NLC), which closed Thursday at $30.39, up $0.01, or 0.03. Canaccord has a price target of $38 on Nalco.