Needham analyst James Ricchiuti raised the firm’s price target on CECO Environmental to $16 from $14 and keeps a Buy rating on the shares. The analyst cites the company’s announcement that its Q4 orders will grow 60% y/y and 42% sequentially, with year-end backlog seen at or near-record levels. Ricchiuti adds that he came away from CECO management’s presentation "more optimistic" about the company’s prospects for 2023.
Published first on TheFly
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