ESAB price target raised to $73 from $70 at Loop Capital

Loop Capital raised the firm’s price target on ESAB to $73 from $70 and keeps a Hold rating on the shares after its Q2 earnings beat and guidance raise. The company’s upbeat report reflects impressive execution on margin improvement initiatives and the management’s confidence in end demand trends heading into the second half of the year, the analyst tells investors in a research note. Loop adds however that the stock’s current valuation as fair given the pathway for growth.