MSA Safety initiated with a Hold at Jefferies

Jefferies initiated coverage of MSA Safety (MSA) with a Hold rating and $200 price target The firm sees a recovery in manufacturing sentiment, bolstered by the potential for lower interest rates, reduced corporate taxes, and deregulation. In the context of this view, the analyst notes MSA has seen strong margin expansion in recent years with additional upside, but remains on the sidelines for now given the “challenging” FY25 comps.