Lincoln Electric price target lowered to $265 from $285 at Loop Capital

Loop Capital analyst Chris Dankert lowered the firm’s price target on Lincoln Electric to $265 from $285 and keeps a Buy rating on the shares. The company sharply reduced its organic growth expectations by roughly 800bp at the midpoint, reflecting broad-based weakness across several key markets in both the Americas and International Welding segments, and the revised guide is prudent but not overly conservative as it assumes a continuation of the soft demand trends witnessed this year to date, the analyst tells investors in a research note.