Air Liquide: JPMorgan upgrades its rating to 'overweight'.

(CercleFinance.com) - On Monday, JPMorgan raised its recommendation on Air Liquide shares to 'overweight' from 'neutral', with a price target raised from €161 to €195.


'In view of the uncertainty surrounding the economic outlook for 2025, Air Liquide's solid defensive growth characteristics of 10%/13%/12% respectively for 2025/26/27 stand out in our view', explains the broker.

JPMorgan also believes that the market is underestimating the margin-enhancing potential of cost-cutting measures, which could include job cuts.

Combined with increased investment and recent contract wins, these measures could accelerate sales growth, it adds, and even narrow the margin gap with its main competitor, Linde.

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