Lake Street analyst Robert Brown reiterated a Buy rating on Ceco Environmental (CECO – Research Report) yesterday and set a price target of $35.00.
Robert Brown has given his Buy rating due to a combination of factors that indicate a promising outlook for Ceco Environmental. The company has shown strong order activity, with orders increasing by 71% in the fourth quarter, and this momentum is expected to continue into 2025. This suggests that despite previous challenges, Ceco is well-positioned for growth.
Moreover, Ceco’s strategic transition towards a more diversified and higher-margin business model is anticipated to enhance its revenue and free cash flow over the next few years. The company’s ability to convert its backlog into revenue, alongside its acquisition strategy, supports the potential for Ceco to reach significant revenue and EBITDA targets. Given these factors, Robert Brown sees a potential stock price increase, making it an attractive investment opportunity.
According to TipRanks, Brown is a 5-star analyst with an average return of 22.8% and a 51.49% success rate. Brown covers the Industrials sector, focusing on stocks such as Argan, Ceco Environmental, and Limbach Holdings.
In another report released today, Northland Securities also maintained a Buy rating on the stock with a $36.00 price target.
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