Stifel Downgrades Lincoln Electric (LECO) to Hold
- U.S. stocks, dollar sluggish, all eyes on Fed meet this week
- Tesla (TSLA) Tops Q2 EPS by 49c, Revenues Beat
- Chinese Tech Stocks Crushed on Fresh Regulatory Pressure
- Nearly $1 Billion Bitcoin (BTC) Shorts Liquidated Today Amid Amazon (AMZN) Rumors
- Aon (AON) and Willis Towers Watson (WLTW) Mutually Agree to Terminate Combination Agreement
News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.
Stifel analyst Nathan Jones downgraded Lincoln Electric (NASDAQ: LECO) from Buy to Hold with a price target of $84.00 (from $97.00).
The analyst comments " Concurrent with this note we have published our quarterly, proprietary welding survey titled "Proprietary Welding Survey: 3Q19 Decelerating Comparison Trends Continue" which suggests America's Welding will miss consensus in 3Q19. In addition, weakening data globally suggests the International business will miss consensus estimates and the overall business will face further headwinds going forward. We continue to view Lincoln Electric as one of the highest quality businesses in our coverage with strong management and leading, innovative technologies but believe the end market headwinds limit upside for investors in the near term and so are stepping to the sidelines."
Shares of Lincoln Electric closed at $80.60 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Lockheed Martin (LMT) PT Raised to $468 at Stifel Following EPS
- SPX Flow (FLOW) PT Raised to $95 at Stifel, Following Announcement Of Strategic Alternatives
- UPDATE: Guggenheim Starts Yum! Brands (YUM) at Buy
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Downgrades, Hot Comments, Hot Downgrades
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!