Lincoln Electric price target raised to $260 from $235 at Barclays

Barclays raised the firm’s price target on Lincoln Electric (LECO) to $260 from $235 and keeps an Overweight rating on the shares as part of a Q3 preview for the machinery and construction group. Inventories are improving across machinery, most notably in agriculture, the analyst tells investors in a research note. The firm sees an opportunity in some of the group’s relative laggards due to lower expectations.