Praxair Surface Technologies won an award
On December 20, Linde’s (LIN) subsidiary Praxair announced that its subsidiary Praxair Surface Technologies won Pratt & Whitney’s 2018 Supplier Sustainability Award. The award is given for an exemplary commitment to environmental sustainability.
Just to demonstrate Praxair Surface Technologies’ ability, the aviation industry is focusing on replacing chrome, cadmium, and other materials with other sustainable options. Praxair Surface Technologies provides a replacement solution that will help reduce the dependency on these materials. Some of Praxair Surface Technologies’ advanced coating solutions decrease energy consumption and reduce NOx emissions.
Lisa Szewczul, Pratt & Whitney’s vice president of environment and health and safety, said, “PST emerged as a leader among many strong applicants for this year’s sustainability award. We were particularly impressed with their transparency, ambitious targets, and alignment with Pratt & Whitney’s environment, health and safety goals. Praxair’s use of life cycle analysis demonstrates the link between sustainability and business value. This positions them to support our commitment to reducing the overall environmental impacts of our operations and products.”
Linde’s stock price update
The weakness in the stock market caused Linde stock to fall 2.4%. The stock closed at $153.11 for the week ending December 21. Praxair stock got relisted as Linde on October 30. Since then, Linde stock has fallen 9.3%. However, analysts see more upside in the stock. Analysts have recommended a target price of $172.50, which implies a return potential of 12.7% over its closing price on December 21. Linde’s RSI (relative strength index) of 41 indicates that the stock isn’t overbought or oversold.
Investors looking to invest in Linde indirectly could invest in the Materials Select Sector SPDR Fund (XLB), which invests 16.1% of its portfolio in Linde. The fund’s other holdings include LyondellBasell (LYB), FMC (FMC), and Albemarle (ALB) with weights of 3.75%, 2.0%, and 1.7%, respectively, as of December 21.