Report
Krzysztof Smalec
EUR 100.00 For Business Accounts Only

Linde Reports Solid First-Quarter Results; Raising Fair Value Estimate

We raise our fair value estimate for narrow-moat Linde to $175 from $173 after the industrial gas producer reported its first quarterly earnings following the integration of Linde’s and Praxair’s businesses on March 1. Our fair value estimate bump is largely due to time value of money since our previous update. Nothing in Linde’s first-quarter earnings release materially alters our long-term outlook for the firm, and we believe our thesis remains intact as management announced that the company i...
Underlying
Linde plc

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Krzysztof Smalec

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