Baird analyst Mircea Dobre maintains $ESAB Corp (ESAB.US)$ with a buy rating, and adjusts the target price from $120 to $134.
According to TipRanks data, the analyst has a success rate of 52.3% and a total average return of 11.6% over the past year.
Furthermore, according to the comprehensive report, the opinions of $ESAB Corp (ESAB.US)$'s main analysts recently are as follows:
Shares experienced a notable increase following ESAB's announcement of a robust third-quarter performance and its continued assurance in sustained core outgrowth and beneficial capital utilization in the future. The company's upward revision of its 2024 guidance is based on strong year-to-date results and ongoing trends. The outlook is buoyed by ESAB's above-market growth in its HGM segment, beneficial shifts in North American equipment market share, and the flexibility in capital deployment.
ESAB has reported another period of financial performance exceeding expectations, propelled by its updated equipment portfolio which is facilitating gains in market share. Additionally, robust demand within the Middle East, India, and Southeast Asia has contributed to a stronger volume performance in the International segment. Despite these positive developments, a stance of neutrality on the stock is maintained in light of the rapid pace of revaluation in its multiples.
ESAB has continued to exhibit robust operating performance and margin growth, even amidst a difficult market environment. The company is increasingly demonstrating commendable execution within a volatile core welding demand landscape.
Note:
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