Ecolab upgraded to Outperform at Evercore ISI on earnings potential

As previously reported, Evercore ISI upgraded Ecolab (ECL) to Outperform from In Line with a price target of $300, up from $265. Ecolab is “one of the few businesses in Chemicals with momentum” into 2026, says the analyst, who sees 2026 as the year Ecolab’s structural earnings potential becomes more broadly apparent as the Ovivo acquisition closes and Digital monetization scales. The pullback of about 8% after Q3 results on transient softness in Water for paper and industrials offers a better risk-reward, the analyst added.