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Did Praxair Release More than Hot Air in Its 3Q16 Earnings?

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Part 8
Did Praxair Release More than Hot Air in Its 3Q16 Earnings? PART 8 OF 8

The Word on the Street: What Analysts Are Saying about Praxair after Its 3Q16 Earnings

Analysts’ recommendations on Praxair prior to 3Q16 earnings

A total of 19 brokerage firms were tracking Praxair’s (PX) stock actively before 3Q16 earnings. Among them, 42% of these analysts recommended the stock as a “buy,” while the remaining 58% recommended the stock as a “hold.” None of the brokerage firms has recommended the stock as a “sell.” The analyst consensus indicates a 12-month target price of $126.60 for the company.

The Word on the Street: What Analysts Are Saying about Praxair after Its 3Q16 Earnings

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After 3Q16

After Praxair’s 3Q16 earnings, the analyst consensus 12-month target price for Praxair remained at $126.60, implying a potential return of 8.6% over the closing price of $117.44 as of October 28, 2016. Among the 19 active brokers tracking the stock, 42.0% analysts now recommend the stock as a “buy,” while the remaining 58% recommend the stock as a “hold.” None of the brokerage firms has recommended the stock as a “sell.”

Individual brokerage firms

Some of the recommendations from brokerage firms for Praxair are as follows:

  • On October 28, Credit Suisse (CS) rated Praxair as “neutral,” with a 12-month target price of $117.00, which implies a potential one-year return of -0.4%, as compared to $117.44 on October 28.
  • On October 28, Barclays (BCS) rated Praxair as “equal weight,” with a price target of $125.00, which implies a 12-month potential return of 6.4% over the closing price of $117.44 on October 28.
  • On October 28, Morgan Stanley (MS) gave an “equal weight/attractive” rating to Praxair, with a price target of $125.00, which implies a 12-month potential return of 6.4% over the closing price of $117.44 on October 28.

Notably, investors can indirectly hold Praxair by investing in the iShares Global Materials ETF (MXI), which had 2.0% of its total portfolio in Praxair on October 28, 2016.

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