Citi Upgrades Ecolab Inc. (ECL) to Buy

Citi analyst Pat Cunningham upgraded Ecolab Inc. (NYSE: ECL) from Neutral to Buy with a price target of $265.00 (from $267.00).

The analyst comments "ECL shares fell ~8% in response to an in-line quarter and better 2H24 EPS outlook which included ~5c of incremental FX headwinds and ~8c of divestiture headwinds. We believe the share price decline post-earnings was overdone with three factors prompting our upgrade: 1) High quality Institutional & Specialty business helping drive continued margin expansion in 2H24 and into 2025. 2) New business wins & high-growth markets help bolster volume outlook for the next several years. 3) Continued execution on pricing and productivity likely to yield significant leverage into 2025. We lower our TP modestly to $265 (-$2) and upgrade ECL to Buy."

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 $228.86 yesterday.

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