Soleil Securities Maintains a 'Buy' on Ecolab (ECL); Raises PT
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Soleil Securities maintains a 'Buy' on Ecolab (NYSE: ECL), raises price target from $45 to $50.
Soleil analyst says, "3Q09 EPS of $0.61 from operations, up 11% from 3Q08's $0.51, were in-line with expectations for $0.60. Ecolab essentially left unchanged the midpoint of its 2009 EPS guidance of $2.00E...We bump up our ECL price target to $50 from $45 as we increase our sustainable EPS growth rate assumption from 13% to 14% per year. For 2010E, favorable pricing should ease, cost-cutting should slow, but restaurant traffic & rooms occupied should inch up, and both raws and FX should turn positive."
To see more analyst ratings on ECL Click Here.
Ecolab Inc. develops and markets products and services for the hospitality, foodservice, healthcare, and light industrial markets in the United States and internationally.
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