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PX

Praxair

$148.46

-1.51 (-1.01%)

07:01
11/10/17
11/10
07:01
11/10/17
07:01

Linde's exchange offer acceptance ratio for Praxair deal reaches 75.7%

Linde plc announced that approximately 75.7% of the ordinary shares of Linde AG entitled to voting rights were tendered at the end of the acceptance period of Linde plc's exchange offer, satisfying the 60% minimum acceptance condition. Accordingly, all transaction closing conditions for the proposed business combination of Praxair and Linde AG were satisfied at the end of the acceptance period, except for certain antitrust and other regulatory approvals. The acceptance level of 75.7% exceeds Linde plc's originally stated minimum acceptance threshold of 75%. The business combination remains subject to the receipt of regulatory approvals and is expected to be completed in the second half of 2018.

PX Praxair
$148.46

-1.51 (-1.01%)

09/15/17
PIPR
09/15/17
NO CHANGE
Target $67
PIPR
Overweight
Mallinckrodt shares can recover with debt pay down, says Piper Jaffray
Shares of Mallinckrodt (MNK) are trading at all-time lows following a federal district court's decision in favor of Praxair (PX) over generic Inomax, Piper Jaffray analyst David Amsellem tells investors in a research note. He believes the stock's valuation multiples can recover provided that Mallinckrodt takes a more aggressive approach to debt pay down and continues to make targeted investment in its pipeline. Share buybacks are not the answer, the analyst contends. Amsellem reduced his price target for the shares to $67 from $70 and keeps an Overweight rating on the name.
10/30/17
SBSH
10/30/17
UPGRADE
Target $168
SBSH
Buy
Praxair upgraded to Buy from Neutral at Citi
Citi analyst P.J. Juvekar upgraded Praxair to Buy and raised his price target for the shares to $168 from $137 citing the company's accelerating growth. Praxair is showing the best growth in Asia, North America, and in Europe in several years, Juvekar tells investors in a research note. He believes industrial gases demand from cyclical markets is "recovering steadily" following weakness in 2015-2016 while growth in all other markets "remains firm."
10/30/17
10/30/17
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Intel (INTC) upgraded to Outperform from Market Perform at BMO Capital with analyst Ambrish Srivastava saying the company is starting to execute on delivering operating leverage and also show discipline in its operating model. 2. Conagra Brands (CAG) upgraded to Buy from Hold at Stifel with analyst Christopher Growe citing the stock's valuation, the company's operating profit growth and its optionality to do "aggressive" share repurchase and M&A. 3. Praxair (PX) upgraded to Buy from Neutral at Citi with analyst P.J. Juvekar citing the company's accelerating growth. 4. Bristol-Myers (BMY) upgraded to Buy from Hold at SunTrust with analyst John Boris saying Merck's (MRK) KN-189 data delay to 2019 and withdrawal of its EU 1L NSCLC filing improves the company's competitive position. 5. Curtiss-Wright (CW) upgraded to Buy from Neutral at BofA/Merrill with analyst Kristine Liwag saying it is a significant beneficiary of US Navy submarines and embedded computing. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/07/17
SUSQ
11/07/17
NO CHANGE
Target $175
SUSQ
Positive
Praxair price target raised to $175 from $155 at Susquehanna
Susquehanna analyst Don Carson raised his price target on Praxair to $175 from $155 on higher earnings estimates that reflect improved volume growth. He also cited the company's pending merger with Linde which will provide EBITDA growth and cost-savings opportunities. Carson reiterated his Positive rating on Praxair shares.

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MKSI

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