Linde price target lowered to $475 from $510 at BMO Capital

BMO Capital analyst John McNulty lowered the firm’s price target on Linde to $475 from $510 and keeps an Outperform rating on the shares after its Q1 results. The company continues to execute well in an anemic growth environment and its management is aggressively controlling what it can, the analyst tells investors in a research note. With expectations for a number of big adds to the backlog, the longer term outlook for Linde remains solid, BMO added.