ESAB upgraded to Buy from Hold at Stifel

Stifel upgraded ESAB (ESAB) to Buy from Hold with an unchanged price target of $141. The company reported an in-line quarter and raised guidance slightly, but the shares sold off 17%, the analyst tells investors in a research note. The firm says expectations for industrial names have been for beats and raises, and ESAB’s in-line print proved to be not good enough. Stifel views the selloff as a “compelling entry point” for a “high quality compounder at a significant discount.”