ESAB price target raised to $120 from $105 at Loop Capital

Loop Capital analyst Chris Dankert raised the firm’s price target on ESAB (ESAB) to $120 from $105 and keeps a Hold rating on the shares. The company posted yet another beat and raise quarter as the refreshed equipment portfolio continues to drive market share gains and solid demand in the Middle East, India, and SE Asia supported stronger-than-expected volume performance in the International segment, though the firm remains neutral on the stock given the impressive pace of multiple re-rating, the analyst tells investors in a research note.