Ceco Environmental price target raised to $70 from $57 at Needham

Needham raised the firm’s price target on Ceco Environmental (CECO) to $70 from $57 and keeps a Buy rating on the shares. The company’s large order announcement and bookings update yesterday was confirmation of the message heard over the past month from two of its large power generation customers that business is strong and accelerating, with both gas turbine customers seeing robust demand through the end of the decade thanks to growth in the AI data center market, the analyst tells investors in a research note.