CECO Environmental Corp (NASDAQ:CECO) shares are soaring 5.06% in intraday trading following the company's impressive first-quarter 2025 earnings report and a series of analyst upgrades. The environmental solutions provider has demonstrated robust growth and improved profitability, catching the attention of investors and analysts alike.

The company reported record first-quarter results, with revenue reaching $176.7 million, up 40% year-over-year and surpassing analyst expectations by 17%. CECO's net income skyrocketed to $36.0 million, resulting in earnings per share of $1.03, significantly beating consensus estimates. The strong performance was underpinned by record bookings of approximately $228 million, up 57% compared to the same period last year, and a backlog growth of 55% to $602 million.

In response to the stellar earnings report, several analysts have revised their outlook on CECO Environmental. Needham raised its price target to $34 from $33, while HC Wainwright upgraded the stock to Buy from Neutral with a $33 price target. The company's expanding sales pipeline, which now exceeds $5 billion, and its maintained full-year 2025 guidance have bolstered confidence in CECO's growth trajectory. With these positive developments, investors are showing increased enthusiasm for CECO Environmental's stock, driving the significant intraday gain.