ESAB price target raised to $68 from $61 at Baird

Baird analyst Mircea Dobre raised the firm’s price target on ESAB to $68 from $61 and keeps an Outperform rating on the shares following what the firm calls "another solid operating beat" in Q4 along with initial 2023 guidance whose EBITDA at the midpoint is 5% above consensus and whose earnings midpoint is in-line with consensus. The firm remains positive on the stock given 2023 organic sales guidance of 3%-5% that was ahead of its prior expectations.