Ecolab upgraded to Outperform from Neutral at Baird

Baird upgraded Ecolab (ECL) to Outperform from Neutral with a price target of $300, up from $273. The firm has increased in its estimates for Ecolab post the Q2 earnings report. The company is seeing accelerating price-driven sales and strong margin improvement, the analyst tells investors in a research note. Meanwhile, the shares trade at their lowest relative valuation since 2018, the analyst tells investors in a research note. Baird believes Ecolab’s recurring revenue model and strong competitive position, combined with very low tariff risk, are “notable positives for large cap investors.”