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ITW - The Ugly Market Selloff Brings Lincoln Electric Back Into A Long-Term Buy Range
Illinois Tool Works Inc.
It takes a lot to knock well-respected, high-quality stocks down to attractive valuations, and this ugly market selloff is doing just that for many stocks, including Lincoln Electric (LECO). Make no mistake, current conditions are pretty challenging for this leading welding company, and whatever recovery may come in 2020 is not likely to be particularly strong. Still, this is a company that has been through this before (many times, actually), has a business plan that gives it a lot of cost flexibility, and is going to emerge from this correction in solid condition.