UPDATE: JPMorgan Upgrades Ecolab Inc. (ECL) to Overweight

(updated to add analyst comment)

JPMorgan upgraded Ecolab Inc. (NYSE: ECL) from Neutral to Overweight, price target $138.00 (from $120.00).

Analyst Jeff Zekauskas comments "Ecolab’s volume prospects are improving. Volume growth was about flat in both 2015 and 2016 due to a contraction in Ecolab’s volumes sold to the Energy markets. Volumes for Ecolab to the Energy market contracted about (5%) in 2015 and about (10%) in 2016, effectively offsetting the benefits of growth from its core Institutional and Water Treatment Chemical markets."

FY 2017 EPS estimate remains at $4.80, FY 2018 EPS estimate rises from $5.30 to $5.35 and FY 2019 EPS estimate rises from $5.85 to $5.95.

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 $130.31 yesterday.

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