Jefferies raised the firm’s price target on Linde (LIN) to $550 from $523 and keeps a Buy rating on the shares. After Linde announced a long-term agreement for the supply of about 1,500 tpd of clean hydrogen to Dow‘s (DOW) Fort Saskatchewan Path2Zero Project, the firm said Linde’s second world-scale low-carbon hydrogen project “significantly validates the relevance of the conventional industrial gas model to the energy transition,” while adding that it likely offsets investor concerns over lackluster industrial demand.
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