J.P. Morgan Rates ECL Overweight

J.P. Morgan has issued a report rating Ecolab Inc. ECL as Overweight.

In the report J.P. Morgan writes, "We rate Ecolab shares Overweight. Investors have well understood the cyclical trade in commodity chemicals and in agriculture but have yet to recognize the earnings power of the later cycle Specialty Chemical companies in our view. We see room for quick upward multiple revaluation as Ecolab's revenues accelerate. ECL currently trades at an atypical 1x multiple point discount to its high quality peer Praxair rather than at a premium."

ECL closed yesterday at $47.82 and has $54 PT.