ESAB price target raised to $114 from $100 at Baird

Baird analyst Mircea Dobre raised the firm’s price target on ESAB to $114 from $100 and keeps an Outperform rating on the shares. The analyst says the company’s Q4 beat showcased its ability to drive margin expansion, “capping a year of consistent execution.” The firm sees longer term potential for the shares in the $140-150 range and remains a buyer of the stock. ESAB’s investment in new product introductions are starting to have a tangible impact in driving above-peer growth, contends Baird.