ESAB price target raised to $85 from $75 at Baird

Baird analyst Mircea Dobre raised the firm’s price target on ESAB to $85 from $75 and keeps an Outperform rating on the shares. The company’s Q2 earnings beat marks a solid operating beat on good price and volume growth aided by robust demand in emerging markets, with “notable” margin performance, the analyst tells investors in a research note. The firm is positive on ESAB’s differentiated market leading exposure in emerging markets and sees further margin expansion potential.