Lincoln Electric price target raised to $185 from $145 at Barclays

Barclays analyst Adam Seiden raised the firm’s price target on Lincoln Electric to $185 from $145 and keeps an Overweight rating on the shares post the Q1 results. Despite nine quarters of volume growth, there’s still a path for further growth in 2023, the analyst tells investors in a research note. Lincoln Electric trades at one of the higher multiples in the machinery space but its through-cycle management and profitability continue to justify this premium valuation, says the firm.