ESAB initiated with an In Line at Evercore ISI

Evercore ISI analyst David Raso initiated coverage of ESAB with an In Line rating and $75 price target. ESAB is the second largest welding tech company, being number one outside North America and number three in North America, and while the firm says it likes the industry and the company, a 45% year-to-date advance along with elevated macro risk “leaves us wanting a better entry point,” the analyst tells investors.