Wunderlich Securities Sees Solid Metrics Outside of Oil & Gas for Lincoln Electric Holdings

In a report published Wednesday, Wunderlich Securities analyst Liam D. Burke reiterated a Buy rating and $85.00 price target on

. In the report, Wunderlich Securities noted, "Lincoln (LECO) has been successfully increasing margins in the face of lower revenue volumes and is now seeing the additional benefit of higher volumes. Acquisitions remain an important piece of the company's growth strategy especially in complementary product lines such as automation. However, beyond acquisitions, Lincoln is returning cash to shareholders through share buy backs and higher dividend payments that are further increasing the company's high teens ROIC. 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 Tuesday at $71.01.