ESAB price target lowered to $109 from $125 at Stifel

Stifel lowered the firm’s price target on ESAB (ESAB) to $109 from $125 and keeps a Hold rating on the shares. The firm is assuming U.S. trade policy leads to a modest industrial recession in the second half of this year through the first half of 2026 and assumes uncertainty leads to lower customer capital and operating expenditures, which cause ESAB and/or its customers to slow production.