These Analysts Boost Their Forecasts On CECO Environmental After Upbeat Q4 Results
Portfolio Pulse from Avi Kapoor
CECO Environmental Corp (NASDAQ:CECO) exceeded Q4 expectations with adjusted earnings of 28 cents per share and sales of $153.71 million, surpassing estimates. The company raised its 2024 revenue and adjusted EBITDA forecasts. Following the report, HC Wainwright & Co. and Needham increased their price targets for CECO, despite its shares falling 17.9% to close at $18.81.
March 06, 2024 | 12:39 pm
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CECO Environmental exceeded Q4 earnings and sales expectations, raised its 2024 revenue and EBITDA forecasts, but shares fell 17.9%.
Despite surpassing Q4 expectations and raising its 2024 outlook, CECO's share price fell significantly, likely due to market reactions or other external factors not detailed in the article. Analysts' increased price targets indicate a positive outlook, but the immediate share price drop suggests a short-term negative impact.
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