TD Cowen analyst Marc Bianchi upgraded Linde (LIN) to Buy from Hold with a price target of $515, up from $480. The firm says it has always viewed the company as “having a very high quality business and to be very well run,” and now it sees enough upside potential to justify a Buy rating. While there are concerns around broader economic growth that could weigh on its outlook, Linde will be able to outperform “whatever macro unfolds,” the analyst tells investors in a research note. TD says the recent pullback in the shares has created a buying opportunity.
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