Air Liquide: share price falls as Morgan Stanley expresses concern

(CercleFinance.com) - Air Liquide was one of the biggest decliners on the CAC 40 index in Paris on Thursday, with analysts at Morgan Stanley lowering their recommendation for the stock from 'in-line weighting' to 'underweight'.


At around 2.10 pm, shares in the industrial gases specialist were down 2.5%, the fourth worst performer on the SBF 120 index, which was down by just under 0.6%.

Morgan Stanley, which is adjusting its target price from 140.5 to 149 euros, points out that the share is currently trading at high levels, having outperformed the most defensive stocks on the European stock exchange by 40% since 2019.

The research department is also concerned about the erosion of growth linked to the energy transition and the slowdown in demand from historical customers, a combination that it deems delicate and above all not taken into account by the market given the current share price.

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