Ceco Environmental price target raised to $80 from $60 at Lake Street

Lake Street analyst Rob Brown raised the firm’s price target on Ceco Environmental (CECO) to $80 from $60 and keeps a Buy rating on the shares. The Thermon (THR) acquisition is “a bold strategic move that creates a nicely diversified business,” the analyst tells investors. Q4 results were “solid” and with Thermon the firm believes Ceco is on a path to become a $2B revenue company generating over $400M in EBITDA in the next three to five years, the analyst added.