Lincoln Electric (LECO +2.2%) gains despite posting a mixed Q2, missing on revenue but beating on a per share basis.
Looking forward, CEO Christopher Mapes says the company is maintaining a cautious outlook for the balance of the year on mixed end sector performance, but expects post solid margin and earnings performance, fueled by its new initiatives, product introductions and the careful management of expenses.
Stifel Nicolaus raises its price target to $68 on the back of the report, noting that LECO reported another strong quarter with significant margin expansion despite softer revenues.
Lincoln Electric Holdings, Inc., is a manufacturer & reseller of welding and cutting products. Welding products include arc welding power sources, wire feeding systems, robotic welding packages, fume extraction equipment, consumable electrodes and fluxes.