Linde PLC

LIN: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$666.00	Wmr	Gpszywtp

Linde Earnings: Price and Productivity Drive Consistent Margin Expansion

Krzysztof Smalec

Jul 27, 2023

Narrow-moat-rated Linde posted solid second-quarter results, featuring a 15% year-over-year increase in adjusted EPS, from $3.10 to $3.57, and raised its full-year outlook for the second time this year. We’ve increased our fair value estimate to $379 from $365, which reflects our slightly more optimistic operating margin assumptions and time value of money.

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