Linde: Jefferies raises its target price

(CercleFinance.com) - Jefferies reaffirms its 'buy' recommendation on Linde, while raising its price target from $523 to $550, highlighting its second low-carbon hydrogen project worldwide, in the Canadian province of Alberta.


"This project, in our view, significantly validates the relevance of the conventional industrial gases model for the energy transition, and probably offsets investor concerns about lackluster industrial demand trends", he judges.

With the credit cycle turning, we expect more debate in the second half of 2024 on the potential flexibility of the balance sheet', continues Jefferies, which sees room for $16 to $23 billion, or $33 to $48 per share through 2026.

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