Ecolab Inc. (ECL) PT Raised to $270 at UBS

UBS analyst Joshua Spector raised the price target on Ecolab Inc. (NYSE: ECL) to $270.00 (from $269.00) while maintaining a Buy rating.

The analyst comments "We attended the National Restaurant Show to meet with ECL CEO, senior mgmt, & IR during ECL’s annual booth tour. As usual, ECL highlighted some of its latest innovations within restaurants, food services, & the broader Institutional segment (~33% of sales). We found some of the most interesting conversations around ECL’s focus on closing customers’ performance gaps, automation/technology, and driving more explicit digital/ services revenue. Near term, we are focused on margin expansion through favorable price/cost actions over the next year. This drives our 2024/25 EPS ~5%/12% above consensus. Longer term, we see expanding potential in digital/services revenues and further value-based pricing as enabling higher revenue drop-through, supporting our ~22% 3-year EPS CAGR (‘24-26e)."

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