Air Liquide: BofA reduces target price
(CercleFinance.com) - On Wednesday Bank of America renewed its buy rating on Air Liquide shares, while reducing its corresponding target price from 170 euros to 160 euros, after talks between its CFO and investors yesterday.
In a report, BofA underlines that the executive highlighted the resilience of the industrial gas manufacturer's business, thanks to its diversification both in terms of geographical areas (Europe accounts for less than 40% of sales) and markets (25% for health and electronics), a phenomenon which it says is reinforced by the sound control of prices.
As a result, the broker says that it is maintaining its earnings estimates for 2022 unchanged, despite the deterioration of the economic situation.
Its new reduced target price still shows an upside potential of around 35%, it adds.
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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.
In a report, BofA underlines that the executive highlighted the resilience of the industrial gas manufacturer's business, thanks to its diversification both in terms of geographical areas (Europe accounts for less than 40% of sales) and markets (25% for health and electronics), a phenomenon which it says is reinforced by the sound control of prices.
As a result, the broker says that it is maintaining its earnings estimates for 2022 unchanged, despite the deterioration of the economic situation.
Its new reduced target price still shows an upside potential of around 35%, it adds.
Copyright (c) 2022 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.