Air Liquide : Q1 = nothing to worry about & visible volume recovery from H2 2024 onwards, target price raised to € 216 (vs € 191) & Outperform confirmed
>Positive indications from chemicals industry expected to support volumes in LI from Q2 2024– Q1 to mark the weakest quarter for Air Liquide in FY 2024 - For G&S, we forecast resilient 1.3% comparable sales growth in Q1 2024. In Large Industries, a material change in the volume trend across the globe should not be assumed, i.e. volumes remained flattish q-o-q at rather subdued levels and holding back comparable sales growth at breakeven level in Q1 2024 (combined ef...L'Air Liquide is engaged in the market of gases for industry, health and the environment. Oxygen, nitrogen, hydrogen, and rare gases make up Co.'s core activities. Co. structures its activities in three segments: Gas and Services, Engineering and Technology, and Other activities. The Gas and Services segment comprises four business lines: Industrial Merchant, Large Industries, Healthcare and Electronics; Engineering and Technology designs, develops and builds industrial gas production plants for Co. and third parties; and the Other Activities segment develops welding and cutting edge technologies, and markets deep-sea diving and swimming equipment to professionals and privates individuals.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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