03:45 PM EDT, 05/02/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We increase our 12-month target price by $9 to $451, or 26.7x our 2025 EPS estimate, in line with LIN's three-year avg. forward P/E, but a notable premium to LIN's closest peer, Air Products and Chemicals (APD 244 *****), which is trading at a forward P/E of 18.3x. We raise our 2024 EPS estimate by $0.02 to $15.51, but cut our 2025 forecast by $0.21 to $16.91. LIN posted Q1 adj. EPS of $3.75 vs. $3.42, an $0.08 beat relative to consensus. Q1 revenue fell 1.1% Y/Y and missed consensus by $276 million, or 3.3%. In Americas, Q1 organic sales increased 2% Y/Y, with 3% higher pricing partly offset by 1% lower volume (mostly in manufacturing and healthcare markets); operating profit margin (excluding cost pass-through) increased 110 bps Y/Y to 30.6%. EMEA Q1 organic sales rose 1% Y/Y on 3% price gains and 2% lower volume; operating profit margin (excluding cost pass-through) expanded 340 bps Y/Y to 32.9%. APAC Q1 organic sales rose 4% (1% price and 3% volume); operating profit margin increased 160 bps Y/Y to 28.1%.