Ecolab Inc. (ECL) PT Raised to $305 at Piper Sandler

Piper Sandler analyst Charles Neivert raised the price target on Ecolab Inc. (NYSE: ECL) to $305.00 (from $270.00) while maintaining a Overweight rating.

The analyst commented, "We are updating our estimates and PT on top-rated ECL based on our slightly better macro outlook which could expand ECL revenue and earnings for both products and services at a somewhat faster pace than we had previously estimated and allow for more rapid price improvement as well. This expansion could also drive the company a bit closer to the near/midterm EBIT margin goal of 20%. We have previously noted that shares are likely to appreciate via three major drivers: Revenue growth, earnings expansion and multiple appreciation. We have also noted that we believe the multiple has upside from the current level (see exhibit 1) if ECL is successful in driving its revenue higher and EBIT to the 20% level (and beyond over time)."

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