Recent Analysts’ Ratings Updates for Praxair (PX)
Praxair (NYSE: PX) received a number of price target changes and ratings updates during the last week:
- Praxair had its “equal weight” rating reaffirmed by analysts at Morgan Stanley. They now have a $140.00 price target on the stock. They wrote, “We expect a neutral to positive response to Prax’s 1Q14 results. Neutral as: i) Praxair’s results beat our recently reduced EPS estimate (note: interest expense was a $0.02 headwind relative to our forecast), but was in line with consensus, and in the middle of the company’s guidance range; ii) The company narrowed its guidance range for the full year by $0.05 on both sides to $6.30-$6.55 versus consensus of $6.47 and MSe of $6.45 (2Q guidance of $1.55-$1.60 compares to consensus of $1.62 and MSe of $1.57); and iii) ROIC declined both year-over-year and sequentially, but management expects it to increase in the back half of the year. “Positive because: i) Volume grew year-over-year in all regions; ii) Price was positive in all regions except for Europe where it was flat. F/X was a 4% drag on operating profit (negative in South American, partially offset by Europe) and will be a 10% drag in South America for the full year.”
- Praxair had its “hold” rating reaffirmed by analysts at Citigroup Inc.. They now have a $142.00 price target on the stock.
- Praxair had its price target raised by analysts at Robert W. Baird from $144.00 to $145.00.
- Praxair had its “buy” rating reaffirmed by analysts at Deutsche Bank. They now have a $146.00 price target on the stock, up previously from $145.00.
- Praxair had its “neutral” rating reaffirmed by analysts at Zacks. They now have a $136.00 price target on the stock. Zacks‘ analyst wrote, “Praxair’s first-quarter 2014 earnings per share of $1.51 grew 9.4% year over year while being in line with the Zacks Consensus Estimate. The top-line grew 5% on the back of volumes and acquisition gains as well as favourable pricing, but was offset by a negative currency translation impact. Growth in North America and Asia were backed by project start-ups while among end markets, Energy, Chemicals and Food and Beverages outshined others. For 2014, Praxair made minor adjustment to its earnings per share guidance, keeping the midpoint constant at $6.40. Also, strategic acquisitions in Texas, Oklahoma, Michigan and acquisition of a mid-Atlantic joint venture and a gases business in Italy as well as divestiture in France will bode well for the company. We maintain a Neutral recommendation on the stock.”
Praxair, Inc. (NYSE:PX) opened at 130.29 on Friday. Praxair, Inc. has a 52 week low of $112.66 and a 52 week high of $135.24. The stock has a 50-day moving average of $130.5 and a 200-day moving average of $127.9. The company has a market cap of $38.166 billion and a price-to-earnings ratio of 21.47.
Praxair, Inc (NYSE:PX) is an industrial gases supplier.
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