Stifel Downgrades US Ecology, Cuts Price Target By 24%

  • Stifel analyst Michael Hoffman downgraded US Ecology Inc ECOL to Hold from Buy and lowered the price target to $32 (an upside of 2%), from $42. 
  • Hoffman says 2021 has "proven less predictable" for waste services companies, and another cut in guidance possible for US Ecology is possible.
  • The analyst adds that the business model is not broken, but "macro exigencies" are impacting sales and profits. 
  • He looks for 2022 guidance in February to "reset expectations" and will revisit the stock's recommendation at that time.
  • Price Action: ECOL shares are trading lower by 3.36% at $30.46 on the last check Tuesday.

Posted In: BriefsAnalyst ColorNewsDowngradesPrice TargetSmall CapAnalyst RatingsMoversTrading Ideas

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