BoA raises estimates for Praxair, Air Products

27 February 2006 23:24  [Source: ICIS news]

HOUSTON (ICIS news)--Banc of America (BoA) on Monday raised its 2006 estimates and targets for industrial gases companies Praxair and Air Products, citing healthy market conditions in North America and accelerating conditions in Asia and Latin America.

BoA said it raised its 2006 estimate for Praxair to $2.80 from $2.75 “on strong trends revealed in the company’s January sales report.” BoA increased Praxair’s 12-month price target to $53 (Euro45) from $51.

BoA raised Air Products’ 2006 earnings estimate to $3.45 from $3.40 and its 12-month target to $65 from $63. “We are encouraged by strong results in hydrogen, electronics and in Asia,” BoA said.

“We maintain our neutral ratings on Praxair, Air Products and Airgas since lofty valuations multiples already reflect positive fundamental trends in our view,” BoA said.

By: Brian Ford
+1 713 525 2653

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