Seaport Research analyst Walt Liptak raised the firm’s price target on Lincoln Electric to $285 from $210 and keeps a Buy rating on the shares. The company’s 2024 outlook was slightly better than expected due to the improving macro industrial data points and several potential catalysts, the analyst tells investors in a research note. The firm believes the U.S. macro industrial data is beginning to turn positive after several years of weakness. It cites a revaluation for the future sales growth and margin improvement for the target increase.
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