Ecolab price target raised to $260 from $234 at BMO Capital

BMO Capital raised the firm’s price target on Ecolab to $260 from $234 and keeps a Market Perform rating on the shares as part of a broader research note on U.S. Chemicals. The firm’s channel checks point to a handful of end-markets and commodities that enjoyed relative strength, while at the same time there were pockets of incremental weakness, particularly in Europe and China, the analyst tells investors in a research note. For the company, BMO notes that its trends in Institutional businss remain solid, while its Pest Elimination has not seen any slowdown despite the profit warning from Rentokil for its North American business.