Lincoln Electric Upgraded: KeyBanc Analyst Foresees Robust Growth On The Back Of EV Charging And Welding Segment
Portfolio Pulse from Nabaparna Bhattacharya
KeyBanc Capital Markets analyst Steve Barger upgraded Lincoln Electric Holdings, Inc. (LECO) to Overweight from Sector Weight, with a price target of $232. The upgrade is based on LECO's strong execution, record operating margin, and EPS visibility on EV charging growth. The welding segment is expected to be a significant revenue driver. The analyst also expects LECO's recent acquisition of Fori to boost the company's goal of $1 billion in Automation revenues by 2025.
June 28, 2023 | 5:51 pm
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Lincoln Electric's stock has been upgraded by KeyBanc due to strong execution, record operating margin, and EPS visibility on EV charging growth. The company's welding segment and recent acquisition of Fori are expected to significantly boost revenues.
The upgrade by KeyBanc is a positive signal for investors, indicating strong performance and growth potential for Lincoln Electric. The company's focus on EV charging and the welding segment, along with the recent acquisition of Fori, are expected to drive revenues, which could lead to an increase in the stock price in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100