After Wells Fargo and Merrill Lynch gave Linde (NYSE: LIN) a Buy rating last month, the company received another Buy, this time from Morgan Stanley. Analyst Vincent Andrews maintained a Buy rating on Linde today and set a price target of $205.00. The company’s shares closed last Monday at $173.91.
According to TipRanks.com, Andrews is a 2-star analyst with an average return of -2.9% and a 61.1% success rate. Andrews covers the Consumer Goods sector, focusing on stocks such as Air Products and Chemicals, Archer Daniels Midland, and Axalta Coating Systems.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Linde with a $218.91 average price target, which is a 27.1% upside from current levels. In a report issued on March 17, DZ BANK AG also upgraded the stock to Buy with a EUR186.00 price target.
Based on Linde’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $7.08 billion and net profit of $511 million. In comparison, last year the company earned revenue of $5.8 billion and had a net profit of $2.98 billion.
Based on the recent corporate insider activity of 30 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of LIN in relation to earlier this year.
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Linde Plc engages in the production and distribution of industrial gases. It operates through the following segments: North America, Europe, South America, Asia, Surface Technologies, and Linde AG. Its primary products include atmospheric and process gases. The firm also designs, engineers, and builds equipment that produces industrial gases primarily for internal use. The company was founded on April 18, 2017 and is headquartered in Guildford, the United Kingdom.