Mizuho Initiates Coverage on Linde (NYSE:LIN)

Research analysts at Mizuho assumed coverage on shares of Linde (NYSE:LIN) in a research note issued to investors on Tuesday, Price Targets.com reports. The brokerage set a “neutral” rating and a $335.00 price target on the basic materials company’s stock. Mizuho’s target price would suggest a potential upside of 11.30% from the company’s current price.

A number of other equities research analysts have also issued reports on the company. Wells Fargo & Company increased their price target on Linde from $340.00 to $360.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 3rd. Deutsche Bank Aktiengesellschaft increased their price target on Linde from $345.00 to $350.00 and gave the stock a “buy” rating in a research note on Monday, August 2nd. Zacks Investment Research upgraded Linde from a “hold” rating to a “buy” rating and set a $310.00 price target for the company in a research note on Friday, July 16th. JPMorgan Chase & Co. increased their price target on Linde from $350.00 to $356.00 and gave the stock an “overweight” rating in a research note on Monday, August 2nd. They noted that the move was a valuation call. Finally, Morgan Stanley reiterated a “buy” rating on shares of Linde in a research note on Monday, September 6th. Three analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $337.20.

NYSE:LIN opened at $300.99 on Tuesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.71 and a quick ratio of 0.60. The firm has a market capitalization of $155.43 billion, a price-to-earnings ratio of 48.31, a price-to-earnings-growth ratio of 2.70 and a beta of 0.78. Linde has a one year low of $214.14 and a one year high of $317.03. The business has a fifty day moving average price of $307.45 and a 200-day moving average price of $297.33.

Linde (NYSE:LIN) last posted its quarterly earnings data on Friday, July 30th. The basic materials company reported $2.70 EPS for the quarter, topping the consensus estimate of $2.53 by $0.17. The firm had revenue of $7.58 billion during the quarter, compared to analyst estimates of $7.38 billion. Linde had a return on equity of 10.54% and a net margin of 11.37%. Linde’s revenue was up 18.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.90 EPS. On average, equities research analysts expect that Linde will post 10.44 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp lifted its stake in Linde by 0.4% in the second quarter. State Street Corp now owns 21,297,579 shares of the basic materials company’s stock worth $6,157,130,000 after purchasing an additional 89,235 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Linde by 0.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,715,094 shares of the basic materials company’s stock worth $3,842,861,000 after purchasing an additional 75,543 shares during the last quarter. FMR LLC lifted its stake in Linde by 0.5% in the second quarter. FMR LLC now owns 10,327,048 shares of the basic materials company’s stock worth $2,983,291,000 after purchasing an additional 47,952 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Linde by 0.4% in the first quarter. Bank of New York Mellon Corp now owns 10,165,843 shares of the basic materials company’s stock worth $2,847,859,000 after purchasing an additional 39,249 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Linde by 2.0% in the first quarter. Geode Capital Management LLC now owns 8,234,156 shares of the basic materials company’s stock worth $2,300,479,000 after purchasing an additional 159,634 shares during the last quarter. 72.10% of the stock is owned by institutional investors and hedge funds.

About Linde

Linde Plc engages in the production and distribution of industrial gases. It operates through the following segments: Americas; Europe, Middle East, and Africa (EMEA); Asia and South Pacific (APAC); Engineering; and Other. The America segment operates production facilities in the U.S., Canada, Mexico, and Brazil.

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Analyst Recommendations for Linde (NYSE:LIN)

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