Here's Why You Should Hold On To Praxair (PX) Stock Now
Zacks Investment Research | Dec 25, 2017 09:59PM ET
We issued an updated research report on industrial gas producer and supplier, Praxair Inc. (NYSE:PX) on Dec 26. Increasing application of industrial gases as well as customers’ preference for the company’s products and services are favoring Praxair. However, exposure to headwinds stemming from rising cost and huge debts, international exposure, industry competition and global uncertainties might prove detrimental.
It currently carries a Zacks Rank #3 (Hold). In June 2017, the company signed a merger agreement with Linde AG (DE:LING) to form a new holding company. The all-stock transaction will combine Praxair’s efficient operating model and Linde’s expertise in engineering and technology, creating a leading industrial gas company with a strong international presence, a large customer base and solid financial flexibility.
Praxair’s financial performance was better than expected in three of the last four quarters while was in line in one. The company’s average positive earnings surprise was 2.32%. The stock’s Zacks Consensus Estimate is currently pegged at $5.81 for 2017 and $6.25 for 2018, representing growth of 0.9% and 1% from their respective tallies 60 days ago.
Also, market sentiments have been positive for Praxair with the stock yielding 10.9% return in the last three months. This gain is above 6.6% growth of the Zacks Investment Research
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