Linde: UBS initiates with 'buy' rating
(CercleFinance.com) - UBS said that it has initiated coverage on German industrial gas maker Linde with a "buy" rating, seeing 15% upside potential for the stock.
The Swiss broker has set a target price of 165 euros a share. "Linde offers upside from Ebitda growth of 8% per year, higher synergies and improving free cash flow," UBS said in a research note.
UBS also believes the group's "under-leveraged balance sheet" should enable it to make cash returns.
Linde shares - hit by the cautious tone on European stockmarkets this morning - are currently down 2.5% at 138.5 euros, underperforming Frankfurt's main share index, which is falling 1.8%.
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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.
The Swiss broker has set a target price of 165 euros a share. "Linde offers upside from Ebitda growth of 8% per year, higher synergies and improving free cash flow," UBS said in a research note.
UBS also believes the group's "under-leveraged balance sheet" should enable it to make cash returns.
Linde shares - hit by the cautious tone on European stockmarkets this morning - are currently down 2.5% at 138.5 euros, underperforming Frankfurt's main share index, which is falling 1.8%.
Copyright (c) 2018 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.