Jefferies Maintains a 'Buy' on Praxair (PX); Strong Q1; Multiple Levers to Sustain Growth

Jefferies maintains a 'Buy' on Praxair Inc. (NYSE: PX), PT increased from $113 to $122.

Jefferies analyst says, "Praxair reported a strong Q1 with 14% QoQ growth in backlog, volume growth of 8% YoY driven by new project start-ups (4%) and base businesses (4%). We see several levers to drive upside to guidance and possibly its 12-18% long-term EPS CAGR. We are raising our 2011E EPS $0.05 to $5.45 (vs. guidance of $5.35-$5.45), raising 2012E $0.20 to $6.30."

For more ratings news on Praxair Inc. click here and for the rating history of Praxair Inc. click here.

Shares of Praxair Inc. closed at $106.10 yesterday.

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