ESAB price target raised to $109 from $91 at BofA

BofA raised the firm’s price target on ESAB to $109 from $91 and keeps a Buy rating on the shares. The Q4 report underscore the strength of EBX initiatives, new product introductions and Automation/Gas Control exposure, says the firm, which argues that the results illustrate the underappreciated growth vectors behind the firm’s prior upgrade of ESAB shares in September. Despite “another strong quarter,” the firm notes that Q1 faces some near-term headwinds from severe weather and fewer working days.