Air Liquide: Jefferies now a seller

(CercleFinance.com) - Jefferies said Friday on that it has downgraded its Air Liquide shares to "underperform" from "buy", saying that the French group's resilience would be tested by the looming economic slowdown.


In its comments on the industrial gas producer, the US broker said it had lowered its earnings forecasts for the group by an average of 5% for 2023 and 2024, bringing its estimates to 6% below the consensus.

Jefferies explains that the growth of the industrial merchant business has so far been largely supported by price effects following the rise in inflationary pressures.



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