Soleil Securities Upgrades Lincoln Electric (LECO) to Gradually Accumulate; Raises Estimates & PT
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Soleil Securities upgrades Lincoln Electric (Nasdaq: LECO) to Gradually Accumulate, price target increased from $40 to $55.
Soleil analyst says, "Given the 3Q beat, our earnings estimate for 2009 is being raised to $1.69 per share (vs our previous $1.30 estimate and 2008's record $5.36), implying 62 cents for Q4 (vs 88 cents last year); Cost structure reduced by $145 million; 108 new products introduced in past 9 months; Our 2010 estimate is being increased to $2.40 (vs $2.00 previously)."
To see more analyst ratings on LECO Click Here.
Lincoln Electric Holdings, Inc., through its subsidiaries, manufactures and resells welding and cutting products worldwide.
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