Analyst James Ricchiuti of Needham reiterated a Buy rating on Ceco Environmental, boosting the price target to $52.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
James Ricchiuti has given his Buy rating due to a combination of factors that suggest a promising outlook for Ceco Environmental. After attending investor meetings at the Needham Virtual Industrial Tech, Robotics & Clean Tech Conference, Ricchiuti expressed increased optimism about CECO’s potential for sustained order growth.
The analyst noted that a detailed examination of CECO’s recent quarterly results, along with insights from industry peers and customers, indicates a robust pipeline of opportunities. These opportunities are expected to drive stronger growth than currently anticipated by the market for 2026. Although there may be some variability in gross margins as CECO secures more projects in the Industrial Air and Industrial Water sectors, Ricchiuti believes there is a clear path to improved adjusted EBITDA and margins in the coming years.
Ricchiuti covers the Technology sector, focusing on stocks such as TTM Technologies, Bel Fuse Inc, and Cognex. According to TipRanks, Ricchiuti has an average return of 9.4% and a 52.63% success rate on recommended stocks.
In another report released on August 19, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $53.00 price target.