Jefferies Lowers Price Target and Estimateson Praxair Inc. (PX); Cautious on Volumes, But Bidding Activity Remains High
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Price: $10.54 --0%
Rating Summary:
12 Buy, 13 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
12 Buy, 13 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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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.
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.
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