Ecolab (ECL) faces "less potential for outsized stock gains" with prospects for risks and reward "balanced at current levels," UBS Securities said Monday in a report.
After 22% earnings per share growth annually in the past two years, adjusted EPS is expected to return to a "normal" range of 12% to 15%, the report said.
UBS downgraded Ecolab's stock to hold from buy with a 12-month price target of $276.
Following Q3 results, UBS trimmed 2025-26 EPS forecasts about 4% with margins and beats below expectations and pricing and costs benefits "now largely done," according to the report.
Institutional segment organic growth is expected to moderate from the current high single-digit percentage level, countered by improving growth in industrial and health care and life sciences, UBS said.
Ecolab shares fell 0.7% in recent trading Monday.
Price: 242.79, Change: -1.79, Percent Change: -0.73
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