Ceco Environmental should be bought on weakness, says Northland

Northland analyst Bobby Brooks raised the firm’s price target on Ceco Environmental to $28 from $27 and keeps an Outperform rating on the shares. The sharp move lower in Ceco yesterday was not driven by the underlying fundamentals but rather “sky-high expectations only being met, not exceeded,” says the firm. Given that it thinks the fundamental picture for Ceco is actually improved following the print, the firm would be buyers on this weakness, the analyst tells investors.