DA Davidson analyst Chris Dankert initiated coverage of Lincoln Electric with a Buy rating and $320 price target. With over 20% of sales tied to automation solutions, the firm sees the company as well positioned to benefit from secular tailwinds including reshoring, an aging technical workforce, and industry 4.0 investment, the analyst tells investors in a research note. DA Davidson adds that Lincoln Electric's robust free cash flow, along with accretive capital deployment, offers upside to earnings, while accelerating growth supports multiple expansion.
