With a market cap of around $214 billion, Linde plc (LIN) operates as an industrial gas company around the globe. Based in Woking, the United Kingdom, the company supplies atmospheric and process gases and also builds process plants, serving industries such as healthcare, energy, manufacturing, and electronics.

Shares of LIN have lagged behind the broader market over the past 52 weeks. LIN has risen 4.6% over this period, while the broader S&P 500 Index ($SPX) has gained 11.9%. However, shares of LIN are up 8.5% on a YTD basis, outpacing SPX’s marginal dip during the same time frame.

Zooming in further, Linde has outperformed the Materials Select Sector SPDR ETF Fund’s (XLB) nearly 5.8% drop over the past 52 weeks and 2.8% return on a YTD basis.

Linde’s stock fell 1.1% following the release of its Q1 2025 results on May 1. The company reported sales of $8.1 billion, with revenue from the Americas segment rising 3% year-over-year to $3.7 billion. Adjusted EPS came in at $3.95, marking a 5.3% increase from the year-ago quarter. Looking ahead to fiscal 2025, the company expects adjusted EPS to range between $16.20 and $16.50. 

For the fiscal year ending in December 2025, analysts expect LIN’s adjusted EPS to increase nearly 6.1% year-over-year to $16.45. The company's earnings surprise history is strong. It beat the consensus estimates in the last four quarters. 

Among the 24 analysts covering the stock, the consensus rating is a “Strong Buy.” That’s based on 17 “Strong Buy” ratings, one “Moderate Buy,” and six “Holds.”

This configuration is slightly more bullish than three months ago, with 16 “Strong Buy” ratings on the stock.

On May 3, Jefferies analyst Laurence Alexander reaffirmed LIN's price target to $535 while maintaining a “Buy” rating. 

As of writing, Linde is trading below the mean price target of $500.14. The Street-high price target of $540 implies a potential upside of 18.8% from the current price levels.