The Saint Paul, MN-based company provides water, hygiene and energy technologies and services.
The price target and neutral rating come on the firm's continued concerns in the energy business, offsetting its long-term positive views of Ecolab's institutional and industrial segments.
"Our primary appreciation for the latter derives from ECL's industry leading service model, resulting in recurring revenue streams," Credit Suisse said in an analyst note.
"However, we believe that further headwinds in the WellChem business will remain (likely in-line with consensus), while we highlight we are also cautious on the OFC business, which is linked to global oil production," the firm added.
The competitive environment will remain more challenging than expected, Credit Suisse said.
Shares of Ecolab closed at $110 on Wednesday.
Separately, TheStreet Ratings Team has a "Buy" rating with a score of B on the stock.
This is driven by a few notable strengths, which should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks covered.
The company's strengths can be seen in multiple areas, such as its expanding profit margins and largely solid financial position with reasonable debt levels by most measures.
The team believes its strengths outweigh the fact that the company has had lackluster performance in the stock itself.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: ECL