These Analysts Raise Their Forecasts On Ecolab After Upbeat Earnings

Ecolab Inc ECL reported better-than-expected second-quarter earnings, while sales missed estimates.

Ecolab reported second-quarter FY23 sales growth of 8% year-on-year to $3.85 billion, missing the analyst consensus of $3.87 billion. Adjusted EPS of $1.24 beat the analyst consensus of $1.21.

Ecolab sees third-quarter FY23 adjusted EPS of $1.45-$1.55 versus the consensus of $1.47.

Ecolab shares rose 1.1% to close at $185.17 on Tuesday.

These analysts made changes to their price targets on Ecolab following earnings announcement.

• Barclays boosted the price target on Ecolab from $165 to $200. Barclays analyst Manav Patnaik maintained an Equal-Weight rating.
• Citigroup raised the price target on Ecolab from $200 to $207. Citigroup analyst Patrick Cunningham maintained a Neutral rating.
• Mizuho boosted Ecolab price target from $177 to $194. Mizuho analyst Christopher Parkinson maintained a Neutral rating.

Read More: Fear & Greed Index Moves To 'Greed' Zone After S&P 500 Settles Lower