UPDATE: Bank Of America Reiterates On Ecolab Inc. On Case For Acceleration

In a report published Friday, Bank of America analyst David Ridley-Lane reiterated a Buy rating on

, and raised the price target from $124.00 to $129.00. In the report, Bank of America noted, “Ecolab's acquisition-adj., constant currency revenue growth has bumped along at ~5% over the past four quarters.We see several positive catalysts and forecast 7% YoY underlying growth in 3Q. A key support is the 30% YoY increase in net new business in 1H14, which should start contributing to top line growth in 2H.” Ecolab Inc. closed on Thursday at $114.70.