ESAB price target raised to $123 from $121 at Baird

Baird raised the firm’s price target on ESAB to $123 from $121 and keeps an Outperform rating on the shares after its Q1 earnings beat and guidance raise. The company saw another quarter of strong operating performance and margin expansion despite a slower end-market backdrop, with the strength of ESAB’s emerging markets exposure along with its new product introductions, the analyst tells investors in a research note. ESAB’s automation rollout and its Gas Control business are leading the company to another quarter of above-peer growth, Baird added.