Jefferies Starts ESAB (ESAB) at Buy

Jefferies analyst Saree Boroditsky initiates coverage on ESAB (NYSE: ESAB) with a Buy rating and a price target of $160.00.

The analyst comments "ESAB is a leading provider of welding solutions that should compound earnings at a midteens rate including capital deployment. Top-line organic growth is driven by refreshed and expanded equipment offerings and secular tailwinds in automation. The company sees significant opportunities for industry-consolidating M&A, particularly in the gas equipment space which is forecast to grow at a mid-single-digit rate organically. We expect strong margin improvement from cost initiatives and revenue growth (improved operating leverage and margin-accretive mix shift). The combination of top-line and margin improvement should drive a low teens EPS CAGR over the next three years."

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

Shares of ESAB closed at $128.82 yesterday.

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