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CECO Environmental upgraded to Strong Buy at Needham

Published 07/06/2017, 10:50 AM
© Reuters.  CECO Environmental upgraded to Strong Buy at Needham
CECO
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  • CECO Environment (CECE +3.2%) opens higher after Needham upgrades shares to Strong Buy from Buy with a $13 price target, saying the right pieces are now in place to get the business growing again.
  • Needham sees notable upside potential with only moderate downside risk, citing CECE's solid base business, an encouraging recent set of management changes, opportunities for operational improvement and low valuation.
  • The firm thinks CECE has been trading for months in a manner more consistent with a down-and-out broken company vs. one simply needing some revitalizing momentum.
  • Now read: Analysts sing praises for Golar LNG's first FLNG unit, see inflection point


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