Hedgeye analyst Jay Van Sciver is hosting an institutional call to discuss our Praxair (PX) long thesis today at 11am ET. We provide a very brief overview below.
*Email sales@hedgeye.com for access.
Shares of PX have lagged the market since the election, providing a favorable opportunity to add exposure to one of the best players in one of the highest quality parts of the Materials sector.
We do not share investor skepticism with respect to the merger with Linde, as local corporate operating cultures have a history of reasonably successful merger and roll-up activity. Instead, we see the combination as complimentary, providing further industry consolidation as a key benefit. While a long-term long, PX shares could readily be valued north of $150 on successful execution.
