Praxair - Industrial Gases NYSE:PX Message Board

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Non-Tech : Praxair - Industrial Gases NYSE:PX

PX 10.16

+0.1%

Oct 31 9:30 AM EDT

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To: Richard Mazzarella who wrote ()	4/14/1997 8:39:00 AM
From: Richard Mazzarella	of 56

Praxair is currently touching its 200dma. The stock could either break support or go higher. Its P/E of 20 is misleading because compared against next years $3 earning estimates (leading P/E 14) the current price should have little downside. The company has been raising prices while costs are contained. That should put the increase to the bottom line. The value of the CO2 acquisition should also become a benefit. Of course PX is part of the S&P 500 and could get caught in the downdraft of a general market meltdown. Praxair was formerly The Linde Division of Union Carbide before the spin-off a few years ago. It tends to be a cyclical company like steel and chemicals, but lags (both up and down) the others by 6-9 months in earnings and stock price.

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