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Barclays Maintains an 'Equalweight' on Praxair Inc. (PX); Consistent Consistency

November 21, 2011 1:53 PM EST Send to a Friend
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Price: $132.49 --0%

Rating Summary:
    5 Buy, 10 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 7 | Down: 7 | New: 24
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Barclays maintains an 'Equalweight' on Praxair Inc. (NYSE: PX) price target of $105.00.

Barclays analyst says, "PX continues to perform at a very high level and has rewarded investors with meaningful outperformance versus industrial gas peers in 2012. PX looks set to enter a period of ever expanding backlogs over the next several years which is generally a positive time for the stock. We continue to expect PX to deliver expected earnings growth and the only thing that holds us back from upgrading is the valuation gap versus peers which is at the wider end of its historic range. PX reported Q3'11 EPS of $1.40 at the top end of its guidance range of $1.35-$1.40...Guidance for Q4'11 of $1.33-$1.38 includes an expected 5 c/sh hit from currency."

"We have updated our Q4'11 EPS estimate from $1.42 to $1.38 and our 2012E EPS from $6.20 to $6.04. Our reduction in estimates resulted mostly from an FX headwind and from somewhat weaker EU profitability. Additionally, we initiate a '13 forecast of $6.95."

For an analyst ratings summary and ratings history on Praxair Inc. click here. For more ratings news on Praxair Inc. click here.

Shares of Praxair Inc. closed at $97.00 yesterday.




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