- Lincoln Electric posted solid top-line and operating beats in the second quarter, with the best volume growth in years, strong pricing, and significant margin improvement in International.
- About 80% of Lincoln's end-markets are solidly in recovery, and most of what's left is at least stabilizing; given past trends, Lincoln is likely looking at two years of growth.
- Lincoln shares aren't conventionally cheap, and I'm concerned about the long-term prospective returns, but there's still a cogent argument for a $160 share price.
For further details see:
Lincoln Electric Off And Running On A New Capex Cycle