Ceco Environmental initiated with an Outperform at Northland

Northland analyst Bobby Brooks initiated coverage of Ceco Environmental with an Outperform rating and $27 price target. The engineering technology firm has transformed through “a refreshed, highly-aligned, and experienced management team” that has driven 70% revenue growth, the analyst tells investors. The firm sees the company as “in the early innings of executing an accretive M&A strategy in a fragmented market,” which it sees driving further revenue growth and margin expansion.