Linde price target raised to $378 from $370 at BMO Capital

BMO Capital analyst John McNulty raised the firm’s price target on Linde to $378 from $370 and keeps an Outperform rating on the shares after its Q4 earnings beat. The company continued to drive solid double-digit EPS growth despite the downturn in Europe and China, an electronics slowdown, and currency headwinds, the analyst tells investors in a research note. The firm adds that robust price and volume trends, gains from efficiency, new projects, and tailwinds from a normalized energy and power cost environment should drive Linde toward or above the higher-end of its double-digit earnings growth range.