Ecolab price target raised to $195 from $170 at Evercore ISI

Evercore ISI raised the firm’s price target on Ecolab to $195 from $170 and keeps an In Line rating on the shares. The firm came away from last week’s analyst meeting “with a sense that fundamentals for the business have bottomed” and the view that “management has moved from aspirational to achievable organic growth targets,” the analyst tells investors. However, the firm says it is “aware this is a square peg in terms of valuation,” and at a 55% premium to the market multiple “we always come back to the ‘right’ multiple here,” the analyst added.