Seaport Research lowered the firm’s price target on Lincoln Electric (LECO) to $235 from $240 and keeps a Buy rating on the shares. The welding sector saw a slow start in 2024, which got slower as the year continued, the analyst tells investors. However, despite macro headwinds, the firm is “really excited” about the improvements going on due to efforts of the new profitable growth programs at the company. The firm lowers its EPS estimates due to the welding sectors’ lack of visibility, but maintains its rating on the stock, believing the company is in a buying opportunity ahead of the expected 2025 general industrial recovery.
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Read More on LECO:
- Lincoln Electric Reports Resilient Q3 2024 Results
- Lincoln Electric declares 5.6% increase to dividend to 75c per share
- Lincoln Electric reports Q3 EPS $2.14, consensus $2.08
- Is LECO a Buy, Before Earnings?
- Lincoln Electric raises quarterly dividend by 5.6% to 75c per share
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