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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