Procore stock price target raised to $90 from Goldman Sachs on stabilizing growth
Investing.com - Linde (NASDAQ:LIN) received an upgrade from Seaport Global Securities on Monday, which raised its rating from Neutral to Buy with a price target of $500.00, representing a potential 19.5% upside from the current price of $418.30. According to InvestingPro data, analyst targets for Linde range from $381 to $576, with a consensus recommendation of 1.68 (Buy).
The upgrade follows Linde’s third-quarter results, which Seaport Global described as "solid," noting the company maintained the midpoint of its guidance despite near-term challenges in the industrial gas sector.
Seaport Global identified three key factors supporting its more positive outlook, including potential volume recovery for the first time in three years, with U.S. hardgoods sales increasing mid-single digits year-over-year in Q3 and possible bottoming in chemical market demand.
The firm also expressed confidence in Linde’s ability to execute productivity and pricing initiatives, highlighting that the company continues to deliver pricing ahead of cost inflation, with all three regions generating positive merchant pricing.
Seaport Global further pointed to Linde’s valuation, noting shares trade at 15.6x forward EBITDA estimates, below the three-year average of 16.8x and at the lowest level in two years, while describing Linde as a "high-quality defensive name" capable of weathering challenges. InvestingPro data shows Linde currently trades at an EV/EBITDA of 16.59 with a P/E ratio of 27.98, and offers a dividend yield of 1.43% with 7.9% dividend growth over the past year. InvestingPro’s Fair Value assessment indicates Linde is slightly overvalued at current levels. Discover more insights with Linde’s comprehensive Pro Research Report, one of 1,400+ deep-dive analyses available on InvestingPro.
In other recent news, Linde PLC reported its third-quarter 2025 earnings, surpassing earnings per share (EPS) expectations with a reported $4.21, compared to the forecasted $4.18. However, the company’s revenue slightly missed projections, coming in at $8.6 billion against an anticipated $8.61 billion. Despite this mixed performance, the company marked its 27th consecutive earnings beat. Bernstein recently adjusted its price target for Linde to $516, down from $519, while maintaining an Outperform rating. The adjustment followed Linde’s earnings results, where guidance was narrowed rather than raised, contrary to some investor expectations. These developments reflect the ongoing analysis and projections by firms such as Bernstein. Investors may find these updates significant as they consider Linde’s future performance.
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