UPDATE: Wunderlich Initiates Coverage on Lincoln Electric Holdings, Inc. on Solid Base for Incremental Growth

In a report published Thursday, Wunderlich Securities analyst Liam D. Burke initiated coverage on

with a Buy rating and $85.00 price target. In the report, Wunderlich Securities noted, “We are initiating coverage of Lincoln Electric Holdings Inc. (LECO) with a Buy rating and an $85.00 price target. Lincoln is a market leader within most of its product segments. The company is known for its premium products, and it has continued to maintain its product leadership by investing heavily in product development. The company's goal is to generate 50% of its annual sales from products introduced in the prior five years. Based on Lincoln's strong, sustainable fundamentals, including strong free cash flow and high returns on invested capital (ROIC), we rate LECO shares a Buy.” Lincoln Electric Holdings closed on Wednesday at $66.39.