CECO Environmental (CECO) Sets Election Deadline for Thermon Stockholders on Merger Consideration

CECO Environmental Corp. (NASDAQ:CECO) is one of the 8 Best Climate Change Stocks to Buy According to Analysts. The stock continues to receive a strong buy rating from analysts, as all of the 6 analyst ratings compiled by CNN assigned it a Buy rating. As of May 19, the stock has a median price target of $90, a 14.91% upside from the current price of $78.32.

On May 15, CECO Environmental, along with Thermon Group Holdings Inc., announced an election deadline for Thermon stockholders to elect a form of merger consideration, in line with the merger of the two companies. Thermon stockholders will have until May 22 to elect the form of merger consideration they wish to receive in the transaction.

Earlier in February, the two firms announced they had entered into a definitive agreement to combine in a stock-and-cash transaction valued at approximately $2.2 billion. CECO emphasized that the merger expands its leadership in industrial environmental and thermal solutions with the addition of Thermon’s established position in process heating, heat tracing, and temperature management.

In late April, Needham increased its price target on CECO Environmental to $90 from $80 while keeping a Buy rating on the stock following its positive first-quarter performance, according to a report by TheFly. The analyst expressed optimism for the upcoming merger with Thermon, noting that the company is entering a major transformation phase with “powerful head of steam”.

CECO Environmental Corp. (NASDAQ:CECO) is a leading environmentally focused, diversified industrial company, serving a broad landscape of industrial air, industrial water, and energy transition markets globally through its key business segments, namely, Engineered Systems and Industrial Process Solutions.

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