Innospec, Ecolab upgraded to Buy ahead of earnings at Seaport Research

As previously reported, Seaport Research upgraded Innospec (IOSP) to Buy from Neutral with a $115 price target and upgraded Ecolab (ECL) to Buy from Neutral with a $290 price target as part of providing previews for 18 companies in the firm’s chemicals coverage reporting earnings in the coming weeks. The firm’s greatest concern for the group is on the impact of tariffs on consumer confidence, macro demand, and demand for goods from U.S.-based companies, though it is “less concerned” about the impact of tariffs on input costs even as it does anticipate some inflation. The recent decline in the U.S. dollar provides some offset to its more cautious outlook and valuation for its chemicals coverage is near multi-year lows, the analyst added in the group preview.