Linde price target lowered to $445 from $450 at UBS

UBS lowered the firm’s price target on Linde to $445 from $450 and keeps a Buy rating on the shares ahead of the Q3 results on October 26. The firm sees organic sales growth of 3.6% in Q3, with volumes down 1% y/y, and prices up 4.6%, in line with consensus, the analyst tells investors in a research note. Decarbonization could add $30/share to the firm’s base case valuation, UBS says.