Linde plc (LIN), headquartered in Woking, the U.K., is a leading global industrial gases and engineering company with a market cap of $226.94 billion. Known for its innovative gas and chemical solutions, LIN plays a vital role in various industries, including healthcare, manufacturing, and energy, by providing essential gases and services worldwide.
Companies worth $200 billion or more are typically classified as "mega-cap stocks," and Linde plc rightly fits into this category. As a long-standing leader in the industrial gases and engineering sector, Linde has built a significant global presence. It is known for its innovative gas and chemical solutions that serve a wide range of industries.
LIN shares are trading 1.6% below their 52-week high of $479.79, which they hit on Aug. 30. LIN has seen a 9.5% gain over the last three months compared to the iShares U.S. Basic Materials ETF’s (IYM) marginal decline during the same period.
In the longer term, LIN is up 14.7% on a YTD basis, and the shares have gained 23.4% over the past 52 weeks. In comparison, the IYM is up 2.5% in 2024 and 5% over the past year.
To confirm its bullish trend, LIN has been trading above its 50-day moving average since early August. However, it's trading below the 200-day moving average recently.
On Aug. 2, LIN shares closed up marginally after reporting its Q2 results. Its sales were $8.3 billion, up marginally year over year. Its adjusted EPS increased 7.8% year over year to $3.85. For Q3, LIN expects adjusted EPS to be between $3.82 and $3.92, up 5% to 8% from the prior-year quarter. For fiscal 2024, the company expects adjusted EPS to be between $15.40 and $15.60, up 8% to 10% year over year.
To emphasize the stock’s outperformance, it is worth noting that Linde’s stock continues to outshine rival Air Products and Chemicals (APD). APD has surged marginally on a YTD basis.
Given its recent outperformance, analysts are moderately optimistic about LIN's prospects. The stock has a consensus rating of "Moderately Buy" from 20 analysts in coverage. The mean price target is $492.22, which suggests a potential upside of 4.3%.
On the date of publication, Rashmi Kumari did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
