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PX

Praxair

$156.36

4.28 (2.81%)

07:09
11/29/17
11/29
07:09
11/29/17
07:09

Linde says 92% of shares tendered by end of exchange period

Linde plc announced that 92% of the ordinary shares of Linde AG entitled to voting rights were tendered by the end of the additional acceptance period of Linde plc's exchange offer on November 24, 2017. The tender process has been completed and no further Linde AG shares can be tendered in the exchange offer. The business combination remains subject to the receipt of certain antitrust and other regulatory approvals and is expected to be completed in the second half of 2018. Aldo Belloni, CEO of Linde AG, said: "We are appreciative for our shareholders' confidence in this opportunity to create a leading company in our industry. We are moving forward with the regulatory review process at full speed and with our most focused attention." If the business combination is completed, Linde plc could initiate a merger-related squeeze-out with respect to Linde AG under German law because the acceptance level in the exchange offer has reached 90%. However, no decision with respect to such squeeze-out has yet been made.

PX Praxair
$156.36

4.28 (2.81%)

11/13/17
ARGS
11/13/17
UPGRADE
ARGS
Buy
Praxair upgraded to Buy from Hold at Argus
11/13/17
ARGS
11/13/17
UPGRADE
Target $171
ARGS
Buy
Praxair upgraded to Buy at Argus on positive impact of Linde merger
As reported earlier, Argus analyst Bill Selesky upgraded Praxair to Buy from Hold with a $171 price target. Selesky says the company is well positioned to deliver stronger EPS growth thanks to its mix of high-growth businesses driving above-industry-average margins, earnings, and returns on invested capital. The analyst adds that Praxair's strategic merger with Linde AG will allow for much greater scale and geographic reach.
11/13/17
11/13/17
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. J.M. Smucker (SJM) upgraded to Positive from Neutral at Susquehanna with analyst Pablo Zuanic saying he believes the rout of food stocks is ebbing and since this company is the worst performing stock in his coverage universe, he chose to play the food trade with it. 2. Delek US (DK) upgraded to Strong Buy from Outperform at Raymond James with analyst Justin Jenkins saying it will benefit from a wider Brent-WTI spread. 3. Nvidia (NVDA) upgraded to Market Perform from Underperform at BMO Capital with analyst Ambrish Srivastava saying the company has demonstrated a "far stronger" data center business than he had forecast and its leverage is greater than anticipated. 4. Praxair (PX) upgraded to Buy from Hold at Argus with analyst Bill Selesky saying the company is well positioned to deliver stronger Earnings Per Share growth thanks to its mix of high-growth businesses driving above-industry-average margins, earnings, and returns on invested capital. 5. TD Ameritrade (AMTD) upgraded to Buy from Hold at Deutsche Bank with analyst Brian Bedell saying trading volumes are improving, trade pricing will hold up better than expected and the Scottrade integration is going very well. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/17/17
JPMS
11/17/17
NO CHANGE
Target $172
JPMS
Overweight
Praxair price target raised to $172 from $156 at JPMorgan
JPMorgan analyst Jeffrey Zekauskas raised his price target for Praxair (PX) to $172 and keeps an Overweight rating on the name. The analyst estimates the combined Praxair/Linde company is currently being valued at $145 per share. Should Praxair trade at parity to Air Products (APD), the new Praxair would be worth $172 per share, Zekauskas tells investors in a research note. He believes, however, that Praxair is capable of trading at a one multiple point premium to Air Products, which he thinks could yield a higher $189 per share value.

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DRI

Darden

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MCHX

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UTX

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INVH

Invitation Homes

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KR

Kroger

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Pandora

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ALLY

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OAS

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DXTR

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GKOS

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GLYC

GlycoMimetics

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$28.94

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