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 ?xml:namespace>
“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.
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|