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Investing.com - Bernstein SocGen Group has reiterated an Outperform rating and $517.00 price target on Linde (NASDAQ:LIN), highlighting the industrial gas company’s consistent earnings performance. The industrial gas giant, currently trading at $470.43 with a market capitalization of $221.6 billion, maintains a P/E ratio of 33.9x.
The research firm expects Linde to achieve its 26th consecutive earnings per share (EPS) beat when it reports second-quarter 2025 results in 10 days, with analysts forecasting FY2025 EPS of $16.46. This would extend a remarkable streak that has continued through challenging economic conditions. InvestingPro subscribers can access detailed earnings forecasts and 12+ exclusive ProTips about Linde’s growth prospects.
Bernstein noted that Linde has delivered 25 consecutive EPS beats to date, including six during what it characterized as an "industrial recession," demonstrating the resilience of the company’s business model.
The firm views Linde as "a great business at a good price," with current valuation in line with long-term averages, while emphasizing that Linde remains primarily an earnings growth story.
Bernstein believes Linde’s backlog and management actions should drive baseline growth regardless of economic conditions, with additional upside potential if base volumes recover, though such recovery is not included in the firm’s current forecasts.
In other recent news, Linde has announced plans to expand its industrial gas facilities in Florida and Texas to support rocket launches and space operations. This expansion is set to be operational by the first quarter of 2027. Additionally, Linde has signed a long-term agreement to supply industrial gases to a low-carbon ammonia plant in Louisiana, investing over $400 million in an air separation unit expected to start operations in 2029. In terms of stock ratings, Citi has upgraded Linde from Neutral to Buy, citing strong execution and improved foreign exchange rates, with a new price target of $535.00. Meanwhile, UBS has maintained a neutral rating, keeping its price target at $485.00, following Linde’s recent investor event that highlighted investments in low carbon hydrogen and technology. Bernstein SocGen Group has reiterated its Outperform rating, emphasizing Linde’s strengths in managing economic challenges and focusing on earnings growth. These developments reflect Linde’s strategic focus on expanding its industrial capabilities and maintaining robust financial health.
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