CECO Environmental "strong buy"

03/12/08 - Capstone Investments

NEW YORK, March 12 (newratings.com) - Analyst William Gregozeski of Capstone Investments maintains his "strong buy" rating on CECO Environmental Corp (CECE). The target price is set to $12.

In a research note published this morning, the analyst mentions that the company has reported its 4Q07 sales in-line with the estimates. CECO Environmental’s gross margins were in-line with the expectations and operating income increased y/y to $2.78 million, the analyst says. The recent takeover of Fisher-Klostermann is in-line with CECO Environmental’s strategy, Capstone Investments adds.