Praxair's Stronger 2Q Results Overshadowed by Merger Prospects With Linde AG; Maintain Our $130 FVE
We expect to maintain our $130 per share fair value estimate for wide-moat Praxair after above-guidance second-quarter results and updated full-year financial guidance. The stock traded 1.5%-2.0% lower intraday, which we attribute to management caution regarding its second-half demand outlook for the U.S. and Brazil markets.We came away with modestly greater optimism about the operating outlook as a result of healthy volume growth, excluding Brazil, and broad-based, modest pricing improvement....
Praxair is an industrial gas company in North and South America. The company's operations consist of two main product lines: industrial gases and surface technologies. The industrial gases product line centers on the manufacturing and distribution of atmospheric gases (oxygen, nitrogen, argon, rare gases) and process gases (carbon dioxide, helium, hydrogen, electronic gases, specialty gases, acetylene). The company's surface technologies segment supplies wear-resistant and high-temperature corrosion-resistant metallic and ceramic coatings and powders. The company's subsidiary, Praxair Surface Technologies, supplies wear-resistant and high-temperature corrosion-resistant metallic and ceramic coatings and powders.
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.
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