Needham & Company Reinstates Coverage on CECO Environmental (CECE) at Buy

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CECE Hot Sheet

Rating Summary:
2 Buy, 0 Hold, 0 Sell

Rating Trend:

Up

Today's Overall Ratings:
Up: 16 | Down: 7 | New: 23

Needham & Company reinstates coverage on CECO Environmental (NASDAQ: CECE) with a Buy. PT $7.00.

Needham analyst says, "In our view, the company is positioned to benefit from the focus on pollution reduction driven by various global regulatory mandates. In addition, previously undertaken streamlining measures are starting to translate into solid operating performance – especially in these
uncertain economic times."

"Our $7 price target is based on 13.5 times our fiscal 2012 operating EPS estimate of $0.52. We believe this multiple is warranted given the company’s focus on higher margin initiatives and strategic focus on the faster growing China market."

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 $6.24 yesterday, with a 52 week range of $4.98-$8.05.

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