Jefferies Lowers Price Target and Estimateson Praxair Inc. (PX); Cautious on Volumes, But Bidding Activity Remains High

Article Stock Quotes (1) Comments (0)

Jefferies reiterates a 'Buy' on Praxair Inc. (NYSE: PX) price target of $122.00 (from $134.00).

Analyst, Laurence Alexander, said, "We are lowering 2012E by $0.05 to $5.80 to reflect adverse F/X and risks to volumes in 2H12. We are also lowering 2013E by $0.10 to $6.60 to reflect a slower volume recovery next year. With bidding activity still high, we believe the industrial gas industry fundamentals are intact."

Lowering price target on pressures from sector multiples, however, the sentiment is shifting in favor of "beaten down higher quality cyclicals" due to relative valuation considerations

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 $105.58 yesterday, with a 52 week range of $88.64-$116.93.

---

Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW

---

*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here

---

---

You May Also Be Interested In

• Jefferies Lifts Numbers on Diana Shipping (DSX) Post Q1
• Compuware (CPWR) Estimates Trimmed, PT Raised at Jefferies
• Needham & Company Maintains Underpform on HP (HPQ), Says Positives Priced In

Create E-mail Alert Related Categories

Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change

Related Entities

Jefferies & Co

Add Your Comment

Name

Subject

Body

Share on Facebook

Verification
can't see the text?
click here to refresh the image.
what's this?