5 Best European Stocks to Buy Now

Page 5 of 5

1. Linde plc (NYSE:LIN)

Number of Hedge Fund Holders: 48

Linde plc (NYSE:LIN) is a Dublin, Ireland-based engineering and industrial gas company. It is the biggest industrial gas company in the world in terms of revenue and market share.

Geoff Haire at UBS gave Linde plc (NYSE:LIN) stock a target price of $320, along with a Buy rating on September 12. The analyst is confident that the company will face macroeconomic headwinds strongly and deliver EBIT growth to its investors in the coming quarters. Some experts consider the nature of Linde plc’s (NYSE:LIN) business as defensive. Linde plc (NYSE:LIN) is expected to weather the economic uncertainty due to its long-term contracts and strong margins. Furthermore, the EU has also shown support for entities manufacturing hydrogen and other important gases.

Analysts think Linde plc (NYSE:LIN) is supported by a high-quality order backlog and a strong internal rate of return. Linde plc (NYSE:LIN) offers an annual payout of $4.68 as of September 30, translating into a forward dividend yield of 1.65%.

ClearBridge Investments shared its stance on Linde plc (NYSE:LIN) in its Q2 2022 investor letter. Here’s what the firm said:

“The replacement of demand for Russian gas with green hydrogen positions Linde (NYSE:LIN) well. Green hydrogen, made by using renewable energy to split water into its basic elements, hydrogen and oxygen, and subsequently cleanly burn the hydrogen as fuel, is seen as key to lowering emissions in hard-to-decarbonize industries such as steel and cement, as well as transport. In 2021 Linde announced a long-term agreement to provide European semiconductor maker Infineon (OTCQX:IFNNY) with onsite production and storage of green hydrogen for the company’s site in Villach, Austria. Securing a clean, domestic source of energy for semiconductor manufacturing appears strategic today amid heightened concerns of reliable supply from Taiwan.”

Of the 895 hedge funds in Insider Monkey’s database as of Q2 2022, Linde plc (NYSE:LIN) was held by 48 funds.

You can also take a peek at the 10 Best COVID Stocks To Invest In and 11 Best Seasonal Stocks To Buy.

Page 5 of 5