Lincoln Electric Holdings Inc

LECO: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$949.00	Lwmfbw	Jkkhsffbp

Lincoln Electric Posts Solid Q2, Increases 2022 Guidance; Raising FVE to $146

Krzysztof Smalec

Jul 29, 2022

We are increasing our fair value estimate for narrow-moat-rated Lincoln Electric to $146 from $141 after the company posted solid second-quarter results, featuring a 30.5% year-over-year increase in adjusted EPS, from $1.67 to $2.18. Our fair value increase reflects the firm’s strong performance, our more optimistic near-term revenue growth and operating margin projections, as well as time value of money.

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