ESAB initiated with a Buy at Roth Capital

Roth Capital analyst Tom Hayes initiated coverage of ESAB (ESAB) with a Buy rating and $150 price target The shares were “unfairly punished” post the Q2 earnings report, which provides an attractive entry point, the analyst tells investors in a research note. The firm says ESAB is more levered than peers to emerging markets that are growing two-times faster than the developed markets. The company is also gaining share in developing markets such as India and the Middle East, contends Roth.