Cantor Fitzgerald Raises Price Target on CECO Environmental (CECE)

November 19, 2012 11:19 AM EST
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Price: $13.91 +4.12%

Rating Summary:
    7 Buy, 4 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 11 | Down: 20 | New: 54
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Cantor Fitzgerald maintained a Buy rating on CECO Environmental (NASDAQ: CECE) and raised its price target to $11.50 (from $10.00).

Analysts said the company is seeing a general improvement in the market for air pollution control equipment and has done an excellent job improving margins over the last two years.

"We estimate that the company is getting 10% of its revenues from gasfired power plants, and we expect this segment to grow strongly over the next year," said analyst Dale R. Pfau.

CECO Environmental Corp. reported earning on November 7th. The highlight was strong bookings, which led to a three-year high in backlog, noted Pfau.

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 $9.38 yesterday.

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