Sooner or later, there will be a point when buying Lincoln Electric (NASDAQ:LECO) on weakness doesn't make sense, but I don't think we're there yet. It's true that this company has seen business weaken on tough conditions in markets like shipbuilding, energy and construction, but I don't expect that weakness to continue indefinitely, and Lincoln still has much to gain from consolidation, expansion into automation and growth in emerging markets like China and Brazil. The shares haven't yet pulled back to what I'd call a safe level, but this will ultimately be a good stock to ride a global industrial recovery.
Second Quarter Weak On Lower Heavy Equipment And Shipbuilding
Between the welding companies (Lincoln Electric, Illinois Tool...
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