Linde forecasts raised after strong Q4 - Deutsche

18 March 2008 11:15  [Source: ICIS news]

LONDON (ICIS news)--Deutsche Bank on Tuesday upgraded its earnings forecasts and share price target for Linde after the German industrial gases group beat expectations with its fourth-quarter results.

 

Linde increased its earnings before interest, tax, depreciation and amortisation (EBITDA) 22%, beating the analyst consensus forecast by 7%.

 

Deutsche Bank increased its earnings per share (EPS) forecasts for 2008-2010 by 1-2% and its price target for Linde shares to €108 from €106.

 

“The team is developing a track record for exceeding targets… while no new programmes have been announced we expect the focus on cost and efficiency to continue in 2009-2010,” said analyst Tim Jones.

 

At 10:11 GMT, Linde shares were trading 2% up on Monday’s close at €88.37 on the Xetra platform.

 

By: Mark Watts
+44 20 8652 3214

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