The Saint Paul, MN-based company provides water, hygiene and energy technologies and services.
The lower price target follows the release of the company's 2015 fourth quarter results yesterday.
Ecolab reported earnings of $1.22 per share, missing analysts' expectations for earnings of $1.24 per share. Revenue for the period was $3.41 billion, which fell short of analysts' estimates of $3.49 billion.
"While it may take some time for the dust to settle, we view current levels as a rare attractive entry point for one of our favorite LT ideas - especially following yesterday's share pullback (-7% vs. S&P 500 -1%) and with guidance helping level-set FY16 expectations," Barclays said in an analyst note.
Shares of Ecolab closed higher by 1.99% to $102.13 on Wednesday.
Separately, TheStreet Ratings Team has a "Buy" rating with a score of B on the stock.
This is driven by a number of 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 largely solid financial position with reasonable debt levels by most measures and expanding profit margins.
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: E