There's more than one way to tap into the global electric vehicle boom, including looking into welding equipment makers.
There's more than one way to tap into the global electric vehicle boom. In fact, Jefferies has three under-the-radar plays that include a welding equipment maker. Welding products manufacturer Lincoln Electric Holdings , painting equipment maker Graco , and industrial adhesive firm Nordson are three companies that will benefit as EV spending ramps up worldwide, analyst Saree Boroditsky said to clients in a Wednesday note.
mountain Lincoln Electric shares YTD For Lincoln Electric, the surge in electric vehicle interest will boost its automotive and transport business, which makes up 17% of its sales, according to Jefferies. Lincoln Electric is a maker of welding equipment and products, but last year it also launched an initiative to design and manufacture EV chargers for the domestic market. The stock is 18% higher this year. Lincoln Electric would get further support from the roughly $7.
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