Barclays lowered the firm’s price target on Ecolab (ECL) to $275 from $300 and keeps an Overweight rating on the shares. The company’s 5% surcharge pricing for U.S. customers only “did catch many by surprise,” the analyst tells investors in a research note. The firm says that while there is an element of proactiveness on Ecolab’s part, it is also likely a “telltale sign” of increasing raw material costs and further deterioration in demand.
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