JPMorgan sees negative implications to Linde plc from government shutdown.
JPMorgan analyst Jeffrey Zekauskas believes there are negative short-term implications to Linde plc due to effects from the partial government shut-down. The new Linde is unable to fully integrate its Praxair operations with Linde AG until the domestic assets are sold to CVC/Messer, which is unlikely until the government re-opens, he contends. Zekauskas notes that Praxair continues to compete with Linde globally until that transaction closes, notwithstanding that Praxair and Linde AG have become one, and points out the companies are also unable to coordinate their commercial activities until the formal close. The analyst reiterates an Overweight rating on the stock but acknowledges that "the trading pattern in Linde shares could become sloppy over the coming days."
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|Date:||Jan 23, 2019|
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