BofA analyst Sherif El-Sabbahy raised the firm’s price target on ESAB (ESAB) to $138 from $130 and keeps a Buy rating on the shares. The company’s “strong” Q3 results “served to further solidify our view that the firm is a fundamentally mispriced asset and is our top pick across the short cycle names,” the analyst tells investors. The firm expects ESAB to compound earnings and free cash flow to drive further multiple expansion as the manufacturing economy gradually recovers, the analyst added.
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Read More on ESAB:
- ESAB price target raised to $138 from $122 at Oppenheimer
- ESAB price target raised to $120 from $105 at Loop Capital
- ESAB Corporation Reports Mixed Q3 2024 Results
- ESAB price target raised to $134 from $120 at Baird
- ESAB narrows 2024 adjusted EPS view to $4.80-$4.95 from $4.75-$4.95
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