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Citigroup has reduced its price target for Linde (NYSE:LIN) to $322.00.

Originally published on Best Stocks

Category: best stocks to buy now

According to The Fly, Citigroup analysts lowered their price target for Linde (NYSE: LIN) in a research note published on Tuesday. The note was published on Tuesday. The previous price target of $346.00 has been revised downward to $322,000. Citigroup’s price objective says the stock price could go up by 16.74% from its most recent closing price.

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Recently, a wide range of research analysts from various companies was provided with the opportunity to share their perspectives on the stock. Deutsche Bank Aktiengesellschaft announced, in a research note made public on Friday, July 29th, that the company would be decreasing its price target for Linde shares from €370.00 ($377.55) to €355.00 ($362.24). However, the investment bank’s recommendation to purchase company shares was maintained. The price target that Bank of America has set for Linde shares has dropped from $370.00 to $369.00, as stated in a research report published on the 13th of July. Despite this modification, they maintained that “buying” the stock was the best action. In a research report made available to the public on September 12th, UBS Group decreased their price objective on Linde shares from $355.00 to $320.00 while maintaining their “buy” recommendation on the company. In a research report published on the 16th of June, Jefferies Financial Group stated that they were lowering their target price for Linde shares from $390.00 to $355.00 and that this decrease was effective immediately. In a research report published on Wednesday, August 10, Stifel Nicolaus upgraded Linde from a “hold” rating to a “buy” rating. This was the last but not the least significant change. They explained their choice by stating that it was derived from their situation evaluation. It has been suggested by one of the equity research analysts that the stock should be sold. Only three believe that investors should buy it, while fourteen believe that investors should be holding onto it. According to Bloomberg, the current consensus rating for Linde is “Moderate Buy,” and the company’s average price target is $360.40. In addition, the current consensus rating for the company is “Buy.”
NYSE: LIN started the trading day on Tuesday with a price of $275.82 per share. Over the previous year, the cost of one Linde share has fluctuated between $262.47 and $352.18, with a low of $262.47 and a high of $352.18. All the financial ratios, including the debt-to-equity ratio, current, and quick ratio, all equal 0.62. Both the current and quick ratios are at 0.62, with the current ratio coming in at 0.74. The company’s market capitalization is $137.46 billion, its price-to-earnings ratio is 39.97, its price-to-earnings-to-growth ratio is 2.27, and its beta value is 0.87. All of these metrics indicate that the company is trading at a premium. In the past 50 trading days, the company’s prices have moved to an average of $289.59, while in the past 200 trading days, those prices have moved to an average of $300.70.

The most recent quarterly earnings report for Linde, which is traded on the New York Stock Exchange under the symbol LIN, was released on July 28. The company that deals in basic materials announced its earnings per share of $3.10 for the quarter, which was $0.12 higher than most industry analysts had anticipated. It was anticipated that the company would bring in $8.39 billion in revenue for the quarter, but what occurred was that the company brought in $8.50 billion. Linde grew its company to the point where it had a net margin of 10.88% and a return on equity of 13.41%. The company’s quarterly revenue increased by 12.1% when measured against the results achieved during the same quarter in the preceding year. The earnings per share for the current year come in at $2.70, comparable to the results achieved during the same quarter of the previous year. Sell-side analysts think Linde will profit 11.89 cents per share during the current financial year.

Recently, there has been a change in the proportion of holdings institutional investors have in the company. TCG Advisory Services LLC spent approximately $226,000 purchasing a new position in Linde during the first three months as part of its investment strategy. The amount of Linde stock owned by Kovitz Investment Group Partners LLC increased by 453.5% during the first three months of 2018 due to the company’s acquisition of additional shares. Kovitz Investment Group Partners LLC now owns 20,928 shares of the basic materials company’s stock, which has a market value of $6,685,000 after purchasing an additional 17,147 shares during the most recent quarter. Kovitz Investment Group Partners LLC purchased these shares. During the second quarter, Zhang Financial LLC achieved a 5.7% increase in the proportion of Linde stock it owned. Zhang Financial LLC increased its stake in the basic materials company by purchasing 138 shares during the quarter. This brings the total number of shares they own in the company to 2,569, which has a value of $739,000 as of this writing. During the last three months of the year, C2C Wealth Management LLC invested $390,000 on Linde’s behalf. In addition, Northwestern Mutual Wealth Management Company increased its holdings in Linde by 44.5% during the first three months of the year. Northwestern Mutual Wealth Management Co. owns the stock held by the basic materials company in 18,103 shares due to the company’s recent purchase of an additional 5,573 shares during the most recent fiscal quarter. There is a value of $5,783,000 attached to these shares. Financial institutions hold the vast majority of the company’s shares, which amounts to 77.07% of the total.

Linde Plc is a multinational corporation that focuses on engineering in addition to providing industrial gas to its clients. The Asia-Pacific region, North and South America, Europe, the Middle East, and Africa are the regions where the company conducts business. It provides process gases such as carbon dioxide, helium, hydrogen, electronic, specialty, and acetylene, in addition to rare gases and atmospheric gases such as oxygen, nitrogen, and argon. Electronic gases and specialty gases are two examples of other types of gases.

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