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Ceco Environmental price target raised to $51 from $34 at Northland

Northland raised the firm’s price target on Ceco Environmental (CECO) to $51 from $34 and keeps an Outperform rating on the shares, citing the belief that Q3 results “should cement to investors that CECO is a clear beneficiary from several durable and long-term tailwinds.” The firm, which also thinks Q2 was the start of Ceco “reestablishing itself as a consistent beat & raise story,” notes that the company has now reported three consecutive quarters of new record orders.

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