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Stifel Downgrades US Ecology, Cuts Price Target By 24%

Author: Akanksha | October 19, 2021 03:13pm

Stifel analyst Michael Hoffman downgraded US Ecology Inc (NYSE:ECOL) to Hold from Buy and lowered the price target to $32 (an upside of 2%), from $42.
Hoffman says 2021 has "proven less predictable" for waste services companies, and another cut in guidance possible for US Ecology is possible.
The analyst adds that the business model is not broken, but "macro exigencies" are impacting sales and profits.
He looks for 2022 guidance in February to "reset expectations" and will revisit the stock's recommendation at that time.
Price Action: ECOL shares are trading lower by 3.36% at $30.46 on the last check Tuesday.

Posted In: ECOL