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Linde May See Some Profit Taking on Outlook Cut, JPMorgan Says 2013-10-29 07:51:32.658 GMT
By Chiara Remondini Oct. 29 (Bloomberg) -- Linde’s investors may be slightly disappointed by weak 4Q outlook, take profits, JPMorgan says.
JPMORGAN (neutral) * 2013 profit target marginally cut due to weak FX going forward * Beat due to strong margins in Gases division * Organic rev. growth of +2.6% at lower end
GOLDMAN (buy) * Underlying 3Q in line, Ebitda at EU1.03b helped by EU57m div. payment from co. in which Linde holds an investment * Ebitda in line with ests. stripping out div. payment
KEPLER CHEUVREUX (buy) * Mixed 3Q numbers * Slight target cut due to stronger-than-expected FX impacts, will be seen as negative
DZ BANK (buy) * 3Q above ests. * 2013 target adjusted due to adverse currency effects as expected
* Earlier: Linde 3Q operating profit beats est.; trims 2013 profit forecast * Indicated 1.4% lower in Lang&Schwarz pre-market * Linde key quarterly earnings metrics: BI Analyzer * Statement
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--Editor: Nadine Skoczylas
To contact the reporter on this story: Chiara Remondini in Milan at +39-02-8064-4241 or cremondini@bloomberg.net
To contact the editor responsible for this story: James Ludden at +44-20-7673-2645 or jludden@bloomberg.net