UPDATE: Citigroup Reiterates on Valspar as Stock is Performing Better, But Not on All Cylinders

In a report published Thursday, Citigroup analyst P.J. Juvekar reiterated a Neutral rating on The Valspar Corporation (NYSE: VAL), and raised the price target from $69.00 to $73.00.

In the report, Citigroup noted, “4Q13 EPS exceeded expectations, but operationally the quarter was in-line with our below consensus EBIT estimate ($137mm vs. Citi at $136mm). Overall, trends in VAL's portfolio remain mixed with strength in US architectural, wood coatings and packaging, and weaker conditions in China & Australia architectural and some industrial end markets. While we like VAL's US housing exposure and leading (albeit still small) position in BPA-free packaging coatings, we think the stock currently reflects these trends. Remain Neutral.”

Valspar closed on Wednesday at $71.45.