Barclays Reiterates an 'Overweight' on Ecolab Inc. (ECL); Tweaking Estimates; Still A Top Pick
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Price: $276.11 -0.05%
Rating Summary:
26 Buy, 10 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
26 Buy, 10 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Barclays reiterates an 'Overweight' on Ecolab Inc. (NYSE: ECL) price target of $62.00.
Barclays analyst says, "In our view, Ecolab is a strong franchise with significant competitive advantages and good long-term growth prospects. ECL is also arguably the most defensive company we cover, and has several company-specific "offensive" factors that we expect to drive accelerating earnings growth in 2012-13 (~20% y/y in both years). These include Nalco accretion, $1B of forecast 2012 buybacks, and expected European margin gains. Given the high level of macro uncertainty today, this combination of defensiveness and company-specific offensive drivers makes ECL a unique story that we believe can outperform in any economic backdrop."
"We are increasing our 2012-13 EPS estimates by $0.01 to $3.03/$3.64, and trimming our 4Q'11 estimate by $0.01 to $0.69. The 4Q'11 change reflects incremental interest expense for the recent $3.75B bond issue and interest from Nalco's senior notes (which ECL plans to retire, but has not yet done so)."
For an analyst ratings summary and ratings history on Ecolab Inc. click here. For more ratings news on Ecolab Inc. click here.
Shares of Ecolab Inc. closed at $55.42 yesterday.
Barclays analyst says, "In our view, Ecolab is a strong franchise with significant competitive advantages and good long-term growth prospects. ECL is also arguably the most defensive company we cover, and has several company-specific "offensive" factors that we expect to drive accelerating earnings growth in 2012-13 (~20% y/y in both years). These include Nalco accretion, $1B of forecast 2012 buybacks, and expected European margin gains. Given the high level of macro uncertainty today, this combination of defensiveness and company-specific offensive drivers makes ECL a unique story that we believe can outperform in any economic backdrop."
"We are increasing our 2012-13 EPS estimates by $0.01 to $3.03/$3.64, and trimming our 4Q'11 estimate by $0.01 to $0.69. The 4Q'11 change reflects incremental interest expense for the recent $3.75B bond issue and interest from Nalco's senior notes (which ECL plans to retire, but has not yet done so)."
For an analyst ratings summary and ratings history on Ecolab Inc. click here. For more ratings news on Ecolab Inc. click here.
Shares of Ecolab Inc. closed at $55.42 yesterday.
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