ESAB price target raised to $148 from $142 at Oppenheimer

Oppenheimer analyst Bryan Blair raised the firm’s price target on ESAB (ESAB) to $148 from $142 and keeps an Outperform rating on the shares. The firm notes shares are down 8% since ESAB’s August 6th Q2 print, reflecting investor concerns about growth and margin progression following a somewhat noisy Q2-Q3 period. Oppenheimer views these headwinds as transient, with ESAB set to resume a healthy cadence of EBX-guided outgrowth and margin expansion going forward. The firm believes ESAB’s runway for international market outperformance has only strengthened over recent past and EWM integration furthers equipment growth upside across geographies, with particularly needle-moving prospects in the U.S. market over time.