Tuesday, January 09, 2007

German shares close higher as SAP, Linde shine UPDATE

Linde gained 2.52 eur to 80.15 after Goldman Sachs added the stock to its Conviction Buy List with a price target of 93 eur.
In a note to clients, the broker said Linde trades at a 19 pct discount to its peers on a 2008 EV/EBITDA basis.
'In our opinion, a 10 pct discount would more appropriately reflect BOC integration risk,' it said.
The stock was also in focus after Linde announced it has sold BOC Group's Polish gas operations to Air Products & Chemicals Inc for 370 mln eur.

No comments: