Linde: Jefferies still a buyer
(CercleFinance.com) - Linde has reported Q3 adjusted sales of $8356m, up 2.
5% y-o-y.
Following this announcement, Jefferies confirms its Buy recommendation on the stock with a target price of $550.
Backlog supports longer-term mix. Q2 EPS was $0.04 above consensus and $0.07 above our estimate, it says.
The EPS projection for 2024 is reduced by <1% to $15.40-$15.50, implying Q4 EPS of $3.86-$3.96 (vs. consensus of $4.04). Weakness in the industrial sector (particularly in China and Europe) is offsetting the sequential rise in the consumer sector, Jefferies adds.
General weakness is likely to persist into 2025, but productivity and pricing will strengthen EBITDA.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as decision-making aids for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.
5% y-o-y.
Following this announcement, Jefferies confirms its Buy recommendation on the stock with a target price of $550.
Backlog supports longer-term mix. Q2 EPS was $0.04 above consensus and $0.07 above our estimate, it says.
The EPS projection for 2024 is reduced by <1% to $15.40-$15.50, implying Q4 EPS of $3.86-$3.96 (vs. consensus of $4.04). Weakness in the industrial sector (particularly in China and Europe) is offsetting the sequential rise in the consumer sector, Jefferies adds.
General weakness is likely to persist into 2025, but productivity and pricing will strengthen EBITDA.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as decision-making aids for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.