Praxair (PX) is Reiterated by Barclays to Equal Weight, Raises Price Target to $ 120

Praxair (PX) was Reiterated by Barclays to “Equal Weight” according to the research note released today. The brokerage firm has raised the Price Target to $ 120 from a previous price target of $112 . Barclays advised their investors in a research report released on May 2, 2016.

Many Wall Street Analysts have commented on Praxair. Company shares were Downgraded by Deutsche Bank on Apr 4, 2016 to ” Hold”, Firm has raised the Price Target to $ 120 from a previous price target of $114 .Company shares were Resumed by Credit Suisse on Mar 24, 2016 to “Neutral”, Firm has raised the Price Target to $ 117 from a previous price target of $107 .

On the company’s financial health, Praxair reported $1.28 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Apr 29, 2016. Analyst had a consensus of $1.27. The company had revenue of $2509.00 million for the quarter, compared to analysts expectations of $2476.99 million. The company’s revenue was down -9.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.43 EPS.

Praxair closed down -0.97 points or -0.81% at $118.45 with 14,93,655 shares getting traded on Wednesday. Post opening the session at $119.49, the shares hit an intraday low of $117.63 and an intraday high of $119.53 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on Jan 8, 2016, Stephen F Angel (CEO) purchased 5,000 shares at $97.80 per share price. According to the SEC, on May 11, 2015, Robert L Wood (director) sold 7,620 shares at $121.68 per share price. On Feb 5, 2015, Elizabeth T Hirsch (Vice President & Controller) sold 16,000 shares at $122.56 per share price, according to the Form-4 filing with the securities and exchange commission.

Praxair Inc. (Praxair) is an industrial gas supplier in North and South America Asia and Europe. The Company’s operations are organized into five segments four of which have been determined on a geographic basis of segmentation: North America Europe South America and Asia. In addition Praxair operates its surface technologies business through its wholly owned subsidiary Praxair Surface Technologies Inc. which represents the fifth segment. The Company’s products in its industrial gases business include atmospheric gases (oxygen nitrogen argon rare gases) and process gases (carbon dioxide helium hydrogen electronic gases specialty gases acetylene). The company also designs engineers and builds equipment that produces industrial gases primarily for internal use. The company’s surface technologies segment operated through Praxair Surface Technologies Inc. supplies wear-resistant and high-temperature corrosion-resistant metallic and ceramic coatings and powders.


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