Air Liquide : Strongly positioned to benefit from increased ‘green’ H2 incentives, we lift our TP to € 188 (€ 168)
>Key beneficiary of emerging ‘green’ H2 market, IRA = additional lever - Based on updated IRENA/(BNEF) projections, ‘green’ H2 volumes are set to increase strongly from virtually nothing in 2021 to more than 400mt (~1,300mt) by 2050 (2020: 90mt – mainly grey), thus becoming a game-changer for hard to abate industries. Key drivers are the relentless global demand for renewable energy, government support, surging CO2 (+41% y-o-y) and natural gas prices, making ‘green’...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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