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

Baird raised the firm’s price target on ESAB to $114 from $100 and keeps an Outperform rating on the shares. The firm said its 4Q beat showcased its ability to drive margin expansion capping a year of consistent execution. Meaningful investment in new product introductions are starting to have a tangible impact in driving above-peer growth as are the Automation and Gas Control verticals.