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Praxair Debt: Is It Stressed Out or Manageable?

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Part 4
Praxair Debt: Is It Stressed Out or Manageable? PART 4 OF 4

Wall Street’s Views and Recommendations for Praxair

Analyst recommendations for Praxair

As of July 5, 2017, there were 20 brokerage firms actively tracking Praxair (PX) stock. About 45.0% of those analysts have recommended a “buy” for the stock, 50.0% have recommended a “hold,” and 5.0% have recommended a “sell.”

Wall Street&#8217;s Views and Recommendations for Praxair

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Analyst consensus is a 12-month target price of $138.47 for Praxair, implying a potential return of 4.1% from the closing price of $132.66 as of July 5, 2017.

Why analysts are recommending a ‘hold’

Praxair’s better-than-expected 1Q17 earnings and the upward revision of its EPS (earnings per share) for fiscal 2017 most likely influenced analysts to recommend a “hold” on the stock. In addition, its merger with Linde AG is expected to benefit shareholders, with expected synergies of $1.2 billion in cost savings. That could be another reason investors are recommending a “hold” for the stock.

Target prices of individual brokerage firms

  • JPMorgan (JPM) recommended a target price for Praxair of $156, which implies a potential return of 17.6% compared to the July 5, 2017, closing price of $132.66.
  • Raymond James Financial (RJF) has recommended a target price of $144 for Praxair, implying a potential return of 8.5% over the closing price of $132.66 as of July 5, 2017.
  • Deutsche Bank (DB) also raised its target price for Praxair to $142, implying a potential return of 7.0% over the closing price of $132.66 as of July 5, 2017.
  • HSBC (HSBC) has rated Praxair a “hold” with a target price of $127. However, the stock is already trading 4.5% above that recommended target price.

You can indirectly hold Praxair by investing in the ProShares Ultra Basic Materials (UYM), which has invested 4.2% of its portfolio in Praxair.

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