Linde PLC
LIN: XNAS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$314.00 | Tkdt | Brjzhqrk |
We Are Encouraged by Linde’s Continued Margin Expansion in Q4 and 2023 Outlook; Increasing FVE
Narrow-moat-rated Linde ended 2022 with a strong fourth quarter, as its full-year 2022 adjusted EPS of $12.29 beat our estimate by $0.26. After rolling our model forward one year, we’ve increased our fair value estimate for the industrial gas firm to $359 from $347, which reflects our more optimistic operating margin assumptions as well as time value of money.