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- Linde (NASDAQ:LIN) late Tuesday was downgraded to Neutral from a previous investment rating of Buy among analysts at financial-services firm UBS. They said the chemical maker faces slowing profit growth while its “already high” earnings multiple limits gains.
- “We believe Linde (LIN) will continue to show best-in-class performance, but with forward multiples back to all-time highs, we see fewer potential catalysts near term to drive further increases,” Joshua Spector, analyst at UBS, said in a March 26 report.”
- The estimated price-to-earnings multiple for the next 12 months is currently 30 times, compared with the five-year average of 26 times, according to UBS.
- The bank raised its price target on Linde (LIN) to $510 a share from $482 a share previously.
| UBS's estimates for Linde (LIN) | |||
| EPS, diluted | |||
| New | Old | ||
| 2024E | $15.66 | $15.66 | |
| 2025E | $17.50 | $17.25 | |
| 2026E | $19.65 | $19.15 | |
More on Linde
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- Linde plc 2023 Q4 - Results - Earnings Call Presentation
- Linde least shorted S&P 500 materials stock as of January; Albemarle most shorted
- Linde Non-GAAP EPS of $3.59 beats by $0.09, revenue of $8.3B beats by $230M