Jefferies raises its price target from $72 to $77 on Buy-rated Ecolab ECL as the company beat Q1 and reiterates 2012 outlook.
Jefferies comments, "Q1 adjusted EPS of $0.50 was $0.02 above consensus and $0.01 above our
forecast. Segment profits were $0.11 above our forecast, offset by lower interest and equity
earnings ($0.01) and corporate expense ($0.09). Ecolab reiterated the 2012E outlook of
$2.95-$3.05, as expected."
ECL closed at $64.34 on Wednesday.
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