ESAB initiated with a Buy at Jefferies

Jefferies initiated coverage of ESAB (ESAB) with a Buy rating and $160 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 says ESAB is in the early innings of its refreshed product portfolio with another 200 basis points-plus of margin expansion by 2028.