Lincoln Electric price target raised to $245 from $230 at KeyBanc

KeyBanc analyst Steve Barger raised the firm’s price target on Lincoln Electric (LECO) to $245 from $230 and keeps an Overweight rating on the shares. The firm notes Lincoln Electric’s shares rose 10.2% following its Q4 results and conference call. KeyBanc thinks this has been a tough cycle to understand from a duration standpoint, and 2024 has been a reset year during a tough operating environment for many of its short-cycle names. Even so, Lincoln Electric closed FY24 out with a record 17.6% op. margin, even before tangible signs of improvement are evident.