Ecolab downgraded to Neutral from Buy at UBS

UBS downgraded Ecolab (ECL) to Neutral from Buy with an unchanged price target of $276. The firm sees less potential for outsized stock gains, and views the stock’s risk/reward as more balanced at current levels. While Ecolab is “back on stride,” generally meeting or beating expectations and delivering 22% annual earnings growth over the past two years, the company’s adjusted earnings growth will return “back into the normal” algorithm range, creating less outperformance verses expectations, the analyst tells investors in a research note.