Baird raised the firm’s price target on ESAB to $100 from $95 and keeps an Outperform rating on the shares. The firm said its Welding distributors survey reported 4Q slightly ahead of budgets, near-term trends continue slowing but there is optimism for reacceleration as 2024 progresses. The firm sees a solid near-term setup as its its valuation versus peers should continue narrowing.
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