Ceco Environmental price target raised to $79 from $73 at Northland

Northland raised the firm’s price target on Ceco Environmental (CECO) to $79 from $73 and keeps an Outperform rating on the shares. Shares traded sharply lower after the Q4 print despite Ceco posting “record results across several metrics,” the analyst tells investors. The firm sees the move lower as driven by some investor “knee-jerk selling,” stemming from some concerns on the strategic rationale for the Thermon (THR) acquisition, but it sees “many strategic benefits of the move,” the analyst added.