KeyBanc Upgrades Lincoln Electric (LECO) to Overweight

KeyBanc upgraded Lincoln Electric (NASDAQ: LECO) from Sector Weight to Overweight with a price target of $68. Analyst Steve Barger noted recent macro data improvements.

"We remain cautious on NT fundamentals for ind'ls and expect an underwhelming earnings season. That said, various macro points have recently improved; we do not see a NT catalyst to drive share prices back to late-Jan. lows. In this env't, we favor high quality names with consistent FCF, balance sheet optionality and strong cap. allocation track record. Recent meetings with mgmt and further due diligence confirm our view LECO exhibits all these attributes," said Barger.

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 $58.61 yesterday.

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