Ceco Environmental price target raised to $25 from $22 at Roth MKM

Roth MKM raised the firm’s price target on Ceco Environmental to $25 from $22 and keeps a Buy rating on the shares. The company’s Q4 resutls outperformed consensus estimates and the management raised guidance modestly for the year, though the post-earnings sell-off is presumably due to “a not big enough raise”, the analyst tells investors in a research note. The firm adds that Ceco’s margins benefited from mix and some true ups at the end of the year, with expectations for margins seen rising further due to its sales mix and internal execution.