Ecolab Inc. (ECL) PT Raised to $279 at BMO Capital

BMO Capital analyst John McNulty raised the price target on Ecolab Inc. (NYSE: ECL) to $279.00 (from $260.00) while maintaining a Market Perform rating.

The analyst commented, "ECL is demonstrating momentum in its "value pricing" initiative and also drove new business to help offset weak end-markets. With that pricing and the last bit of raws tailwinds, ECL also flexed its EBITDA margins, approaching the near-peak margins of 3Q19. With enhanced value in its service/product offering, ECL's earnings should push higher as its end-markets come back (next few years), and we are raising our target price to $279. However, we see the valuation as a bit stretched at these levels and would wait for a better entry point."

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