Ecolab

ECL · NYSE

$288.16+$2.22 (+0.78%)TodayMarket closed · Oct 20, 7:35 PM ET

Prev close $285.94

ECL analyst rating

BuyConsensus of 16 analysts over the last 12 months. 94% rate it a buy.

Strong buy0
Buy15
Hold1
Underperform0
Sell0

12-month price target · 24 analysts

Average $330.05 (+14.5% upside)

Low: $272.70
Now: $288.16
High: $378.00

Upgrades and downgrades

The latest rating actions, newest first

ECL analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
UBS	Oct 5, 2026	Maintains	Buy	$342.00 → $344.00	49%
Wells Fargo	Jul 30, 2026	Maintains	Equal-Weight	$275.00 → $295.00	46%
Mizuho	Jul 29, 2026	Maintains	Outperform	$325.00 → $327.00	62%
BMO Capital	Jul 29, 2026	Maintains	Outperform	$345.00 → $360.00	50%
JP Morgan	Jul 29, 2026	Maintains	Overweight	$295.00 → $305.00	57%
Oppenheimer	Jul 17, 2026	Upgrade	Perform → Outperform	$320.00	46%
Deutsche Bank	Jul 9, 2026	Maintains	Buy	$325.00 → $335.00	64%
RBC Capital	Jul 7, 2026	Maintains	Outperform	$337.00	64%
Citigroup	Jun 24, 2026	Maintains	Buy	$325.00 → $330.00	53%
Wells Fargo	Jun 10, 2026	Maintains	Equal-Weight	$260.00 → $275.00	46%

The case for and against

Updated Oct 15, 2026

Bull case

Ecolab is supported by broad-based momentum across its end markets, with pricing surcharges and value-based pricing expected to more than offset elevated input costs and help drive 14–15% EPS growth in 2H26 excluding CoolIT. Its growth engines—Global High-Tech, Life Sciences, Pest Elimination, and digital—already generate about $3bn of revenue, while the CoolIT acquisition meaningfully expands exposure to AI infrastructure and could add roughly $1.5bn in annualized High-Tech revenue at above-company margins. The company’s One Ecolab cross-selling model, 90%+ recurring revenues, ~$8% share in a $152bn market, and expected margin expansion toward 19% in FY26 underpin a durable, high-quality compounding profile.

Bear case

Ecolab is viewed negatively because its 2Q26 and 1Q26/2Q26 volume trends still reflect only modest growth, with 1% volume growth in 1Q26, 4% organic revenue growth in 2Q26, and near-term headwinds from the war in Iran and weakness in Paper and Heavy Industries. Although management targets FY26 adjusted EPS growth of 6.5%–9% to $8.03–$8.23 and margin expansion to about 18.5%, the path depends on surcharge pricing, cost savings from the One Ecolab program, and stabilization in lower-margin businesses, leaving execution risk high. Investor expectations also appear elevated, while the CoolIT acquisition adds short-term EPS drag of $0.20 per share in both 3Q and 4Q and downside risk of roughly 10% to FY27E EPS remains plausible if revenue growth or market share disappoints.

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