BUZZ-Street View: Brokerages raise PT on Ecolab post Q3 profit beat

Reuters
2024-10-30
BUZZ-Street View: Brokerages raise PT on Ecolab post Q3 profit beat

** Water solutions company Ecolab ECL.N on Tuesday raised FY adjusted earnings forecast after reporting Q3 profit beat, helped by higher demand for its products and lower costs

** ECL shares up 0.3% at $254.41 on Wednesday

GROWTH POTENTIAL AMID MACRO CHALLENGES

** Morgan Stanley ("Equal Weight") raises PT to $263 from $240, says co is well-positioned against a still challenging macro environment, led by resilient volumes and continued pricing power

** Adds that 2024 has played out well, with positive pricing despite materially lower delivered product costs

** BMO ("Market Perform") raises PT to $279 from $260, says ECL is demonstrating momentum in its "value pricing" initiative and driving new business to help offset weak end-markets

** Mizuho ("Outperform") raises PT to $297 from $291, says water services continue to benefit from semiconductor and data center growth, and even transportation delivered good growth

** Citigroup ("Buy") raises PT to $292 from $290, says co's goal to tap into the $55 bln cross-selling opportunity across its customer base presents upside

(Reporting by Pooja Menon in Bengaluru)

((Pooja.Menon@thomsonreuters.com;))

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