Stifel Downgrades Lincoln Electric (LECO) to Hold

October 9, 2019 4:27 AM EDT
Get Alerts LECO Hot Sheet
Price: $137.24 +0.98%

Rating Summary:
    9 Buy, 10 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 25 | Down: 37 | New: 115
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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."

For an analyst ratings summary and ratings history on Lincoln Electric click here. For more ratings news on Lincoln Electric click here.

Shares of Lincoln Electric closed at $80.60 yesterday.

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