- Stifel analyst Michael Hoffman downgraded US Ecology Inc 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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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