Linde

LIN · NASDAQ

$501.89−$1.55 (−0.31%)TodayMarket closed · Oct 20, 7:45 PM ET

Prev close $503.44

LIN analyst rating

BuyConsensus of 13 analysts over the last 12 months. 100% rate it a buy.

Strong buy0
Buy13
Hold0
Underperform0
Sell0

12-month price target · 28 analysts

Average $552.77 (+10.1% upside)

Low: $404.00
Now: $501.89
High: $642.60

Upgrades and downgrades

The latest rating actions, newest first

LIN analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
RBC Capital	Oct 15, 2026	Maintains	Outperform	$553.00 → $549.00	46%
Barclays	Oct 13, 2026	Initiates	Overweight	$577.00	50%
Citigroup	Oct 7, 2026	Maintains	Buy	$580.00 → $560.00	53%
UBS	Oct 5, 2026	Maintains	Buy	$612.00 → $574.00	49%
Argus Research	Sep 28, 2026	Maintains	Buy	$563.00 → $538.00	67%
Keybanc	Sep 11, 2026	Initiates	Overweight	$542.00	30%
BMO Capital	Aug 10, 2026	Maintains	Outperform	$560.00 → $546.00	50%
Citigroup	Aug 3, 2026	Maintains	Buy	$600.00 → $580.00	53%
RBC Capital	Aug 3, 2026	Maintains	Outperform	$576.00 → $553.00	46%
Bernstein	Aug 3, 2026	Maintains	Outperform	$559.00 → $564.00	40%

The case for and against

Updated Jan 22, 2025

Bull case

Linde has demonstrated strong growth with a 4% year-over-year increase in manufacturing, supported by stable volumes across regions and effective pricing strategies. The Asia-Pacific region showed significant strength with an operating profit increase of 8% year-over-year, driven by project starts in the electronics sector, which bolstered margins to 29%. Furthermore, Linde's ability to expand its multiple through economic downturns, underscored by its resilience and capacity to enhance earnings, substantiates a positive outlook for the company’s future performance.

Bear case

Linde experienced a 1% year-over-year decline in healthcare revenues, attributed largely to continued weakness in the U.S. home care sector, indicating challenges in this key area. The potential for a severe global recession could lead to an EBITDA decline to approximately $11 billion, exacerbated by reduced volumes in merchant and packaged gases, which reflect vulnerabilities in market demand. Furthermore, the company reported a 2% drop in sales in the Asia-Pacific region, coupled with flat pricing and weakening industrial end market performance, highlighting persistent pressures on Linde's revenue streams.

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