CECO Environmental (CECE) PT Lifted at Needham & Company Following Q3 Results

November 8, 2013 7:29 AM EST
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Price: $13.36 --0%

Rating Summary:
    7 Buy, 4 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 9 | Down: 12 | New: 43
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Needham & Company reiterated a Buy rating and raised its price target on CECO Environmental (NASDAQ: CECE) from $16 to $19 following "healthy" Q3 resuls and a solid backlog that points to a strong 2014.

"In the big picture, we continue to believe CECE is diligently executing in the current environment through smart bolt-on acquisitions that are aiding growth and also enhancing the margin profile (and opportunities) of the model," analyst Sean K.F. Hannan said. "Further, bookings and backlog trends continue to be positive, and we expect CECE to experience a strong 2014 driven by the combination of these positive dynamics."

The firm trimmed FY 2013 EPS from $0.98 to $0.97 and FY 2014 EPS from $1.08 to $0.98.

For an analyst ratings summary and ratings history on CECO Environmental click here. For more ratings news on CECO Environmental click here.

Shares of CECO Environmental closed at $16.40 yesterday.

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