Air Liquide: Morgan Stanley still a buyer
(CercleFinance.com) - On Thursday morning, analysts at Morgan Stanley confirmed their buy ("outperform") rating on the share of the French industrial and medical gases group, Air Liquide, despite having a target price of 130 euros, which is close to the share's current price.
Analysts react to the preliminary data for Q3 sales (expected on 24 October), which were published yesterday for the company's Gas & Services flagship division. In Q3, FX factors will have a slightly greater positive effect ("close to 2%") than analysts were expecting (+1.7%). Virtually zero in Q2, the energy impact is now expected to reach between -2.5% and - 3% in Q3, while Morgan Stanley was expecting +0.2%.
Basically, even though the comparison basis has become less favourable, trends should remain solid in Q3, Morgan Stanley believes, which should also apply to margins (although this will not be the case in the publication of 24 October).
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
Analysts react to the preliminary data for Q3 sales (expected on 24 October), which were published yesterday for the company's Gas & Services flagship division. In Q3, FX factors will have a slightly greater positive effect ("close to 2%") than analysts were expecting (+1.7%). Virtually zero in Q2, the energy impact is now expected to reach between -2.5% and - 3% in Q3, while Morgan Stanley was expecting +0.2%.
Basically, even though the comparison basis has become less favourable, trends should remain solid in Q3, Morgan Stanley believes, which should also apply to margins (although this will not be the case in the publication of 24 October).
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.