Ecolab downgraded to Underperform at BofA on elevated cost headwinds

As previously reported, BofA analyst Steve Byrne downgraded Ecolab to Underperform from Neutral with a price target of $162, down from $170. Pricing for chlorine and caustic "remain quite elevated" from historical levels, which represents an on-going cost headwind for Ecolab, the analyst tells investors.