Ecolab upgraded to Overweight from Equal Weight at Barclays

Barclays analyst Manav Patnaik upgraded Ecolab to Overweight from Equal Weight with a price target of $260, up from $225. The positive “jaws” dynamic will be most prominent in fiscal 2024, the analyst tells investors in a research note. However, the firm says assuming raw materials stay stable, Ecolab is back to being a “rare ESG-stalwart” that will compound earnings growth in the low double digits. In other words, the company has strong visibility to get to 20% margins, contends Barclays.