Baird analyst Mircea Dobre raised the firm’s price target on Lincoln Electric to $231 from $200 and keeps an Outperform rating on the shares. The firm said its Welding distributors survey reported 4Q slightly ahead of budgets, near-term trends continue slowing but there is optimism for reacceleration as 2024 progresses. The firm noted expectations are high for Lincolnn electric heading into earnings and they would be better buyers on any pulback.
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