Deutsche Bank Starts Lincoln Electric (LECO) at Hold
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Deutsche Bank initiated coverage on Lincoln Electric (NASDAQ: LECO) with a Hold rating and a price target of $70.
Analyst Saree Boroditsky said, "We see Lincoln Electric as a high-quality Industrial franchise that has a leading position in the global welding and cutting market, 25%+ ROIC, and faster than average growth from proactive investments. We think the company is a solid long-term industrials holding but remain cautious on entering the stock at this point as we don’t see any clear catalyst to support a meaningful improvement in what continues to be a sluggish economic backdrop."
Shares of Lincoln Electric closed at $64.22 yesterday.
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