Ecolab price target raised to $185 from $181 at BofA

BofA raised the firm’s price target on Ecolab to $185 from $181 and keeps an Underperform rating on the shares after the company posted Q3 EPS at the top of their $1.45-1.55 guidance, driven by 7% pricing and slightly positive volume. While the firm is expecting double-digit earnings growth, “valuation is our concern,” the analyst says in reiterating an Underperform rating, noting that the stock trades at a multiple “well above the rest of our chemical coverage.”