(News Bulletin 247) – Stifel reiterates its ‘buy’ recommendation on Air Liquide with a price target raised from 160 to 178 euros, in the wake of higher earnings estimates for the French supplier of gas for industry and health .
The broker expects comparable growth in gas activity, probably around 4% in the first quarter. ‘It might only be stable in Europe, but thanks to strong price increases, very solid in the Americas,’ he says.
Stifel raises its medium-term comparable growth assumptions, and anticipates ongoing margin expansion based on pricing power in the industrial merchant segment and on cost measures.
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