SunTrust analyst James Sheehan raised his price target on Linde to $196 and kept his Buy rating after attending a sell-side meeting with its CFO Matt White. The analyst says the management is "conservative" with its outlook based on the macro headwinds but believes that the company stands to benefit from a slower global growth scenario with its "more defensive earnings profile". Sheehan is also positive on Linde's valuation at current levels as well as the preserved cost synergy potential from its Praxair deal, which he expects to be "highly accretive" in coming years.