ESAB (ESAB) PT Lowered to $142 at Roth/MKM

Roth/MKM analyst Tom Hayes lowered the price target on ESAB (NYSE: ESAB) to $142.00 (from $146.00) while maintaining a Buy rating.

The analyst commented, "The Middle East represents ~7% of ESAB’s revenue, and when India is included that reaches ~15%. The Iran conflict (and higher oil prices) negatively impacted demand for ESAB solutions, necessitating our lowered estimates for 1QF26. However, our checks indicated an improving US market, which is likely to further accelerate as 2026 progresses. We see the pending addition of Eddyfi (closing mid-2026) as a key component to ESAB’s end-to-end solution portfolio for the global manufacturing complex and further differentiates ESAB from its competition. We are introducing 2027 estimates today and our price target moves to $142."

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