ESAB price target raised by $12 at Baird, here’s why

Baird raised the firm’s price target on ESAB to $95 from $83 and keeps an Outperform rating on the shares. The analyst is “incrementally positive” on the shares following the company’s investor day. The event highlighted progress made since 2016 while outlining 2028 targets which are achievable. the analyst tells investors in a research note. The firm says ESAB is “gradually transforming into a high quality earnings compounder” with a framework that points to meaningful shareholder value creation over the next five years.