Stifel analyst Nathan Jones maintains $ESAB Corp (ESAB.US)$ with a buy rating, and adjusts the target price from $118 to $138.
According to TipRanks data, the analyst has a success rate of 68.2% and a total average return of 18.4% over the past year.
Furthermore, according to the comprehensive report, the opinions of $ESAB Corp (ESAB.US)$'s main analysts recently are as follows:
Shares experienced a significant increase following ESAB's strong third-quarter performance, which surpassed expectations, coupled with the company's reassurance on sustained core growth and beneficial capital allocation in the future. With robust results throughout the year and consistent trends, the company has increased its guidance for 2024. The ongoing expansion of ESAB's high-growth markets, North America's equipment share gains that enhance the product mix, and the flexibility in capital deployment continue to be positive factors.
The company has once again surpassed expectations and prompted an upward revision of forecasts, propelled by a rejuvenated equipment portfolio that is capturing increased market share. Furthermore, robust demand in the Middle East, India, and Southeast Asia has led to a performance that exceeded projections, particularly in the International segment.
ESAB has demonstrated yet another quarter of robust operational performance and margin growth, even amid a tougher end market scenario. An ongoing commitment to the stock is expressed with the view that ESAB is solidifying its reputation for exceptional execution amidst fluctuating core welding demand conditions.
Note:
TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.
Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.
