Ecolab price target raised to $240 from $200 at Argus

Argus analyst Kristina Ruggeri raised the firm’s price target on Ecolab to $240 from $200 and keeps a Buy rating on the shares. The company has been improving margins through acquisitions, new business wins, and the increased use of automation while also raising prices at a double-digit pace over the last year, the analyst tells investors in a research note. Ecolab has prospects for above-average revenue and earnings growth over the long term based on strong demand, margin expansion, and market share gains, the firm added.