Ceco Environmental price target raised to $56 from $35 at Lake Street

Lake Street raised the firm’s price target on Ceco Environmental (CECO) to $56 from $35 and keeps a Buy rating on the shares following “strong” Q2 results. Management noted an improving sales pipeline, notes the analyst, who expects Ceco to show accelerating revenue growth and free cash flow over the next three to four years as strong orders and double-digit backlog growth convert to revenue.