Craig-Hallum analyst Aaron Spychalla raised the firm’s price target on CECO Environmental to $19 from $17 and keeps a Buy rating on the shares. CECO is on the firm’s Alpha Select List. Spychalla noted that last week, the company announced preliminary Q4 orders of $145M+, with backlog expected to be at or near a record high. The analyst believes order strength remains broad-based and predominantly organic, with a strong pipeline, and the healthy backlog provides "nice visibility into 2023 numbers."
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on CECO:
- CECO Environmental management to meet with Craig Hallum
- CECO Environmental price target raised to $16 from $14 at Needham
- CECO Environmental Expands Industrial Offering with Acquisition of UK-Based Noise Control Technology Company
- CECO Environmental completes Wakefield Acoustics acquisition
- CECO Environmental expects Q4 orders to exceed $145M
