Lincoln Electric price target lowered to $252 from $257 at Baird

Baird analyst Mircea Dobre lowered the firm’s price target on Lincoln Electric to $252 from $257 and keeps an Outperform rating on the shares. Q1 organic sales were down 6% on flat pricing, while EPS modestly exceeded consensus, notes the analyst. The firm remain long-term buyers given what they view as “superior execution” and “attractive long-term growth drivers,” but recognize a potentially tougher near-term setup.