Industry Reports

Deutsche Bank Reports Summaries

071207 Deutsche Bank Report - Dr. Paper's Weekly Wrap Up (12/07/07)

Deutsche Bank - Equity Research

* Greif reported better than expected F4Q results, guided FY08 above consensus, and reaffirmed ambitious FY09 targets (e.g. 12.5% EBIT margin, 25% RONA). We boosted our price target from $75 to $85.

* Temple-Inland announced that its special cash dividend of $10.25/share will be paid Dec. 21 to shareholders of record as of Dec. 12. The spin-offs of Guaranty and Forestar are still expected on Dec. 28 to shareholders of record as of Dec. 14. Despite modest run-up over last 2 weeks, stock still looks compelling to us.

* We will host an investor trip next Thursday to O-I headquarters in Ohio to meet with senior management, including CEO Al Stroucken. O-I over the last year has been one of the best turnaround stories in recent memory. Interested clients should contact us directly.