Analyst Says These 10 Stocks Can Benefit if Donald Trump Wins US Election 2024

4. Linde PLC (NASDAQ:LIN)

Number of Hedge Fund Investors: 65

Linde PLC (NASDAQ:LIN) is one of the notable chemical and industrial gas companies in the world. Linde PLC (NASDAQ:LIN)  growth prospects are strong. For 2024, it expects adjusted EPS for the full year 2024 to range between $15.30 and $15.60, reflecting an 8% to 10% growth. This guidance aligns closely with the analyst’s annual EPS estimate of $15.52. Wall Street expects Linde PLC (NASDAQ:LIN) earnings growth to average over 11% per annum over the next five years. Average analyst price target on the stock set by Wall Street is $473, which presents a 9% upside potential from the current levels.

Linde PLC (NASDAQ:LIN) is benefiting from the global de-carbonization trend. As of the end of March this year, the company had $8.5 billion project backlog, set to convert into revenue over time. These high-quality projects, characterized by double-digit IRR, secure cash flow, and reputable customers, include over one-third related to clean energy.

Linde PLC (NASDAQ:LIN) talked about this trend during Q1 earnings call:

At the same time, we are seeing project backlog opportunities pick up for new low-carbon electric arc furnaces or EAF as well as existing steel customers exploring ways to reduce their carbon footprint. Linde has recently signed a long-term agreement with H2 Green Steel to supply industrial gases for the world’s first large-scale green steel production plant in Northern Sweden. In addition, Tier 1 producers like Baowu in China have expanded their relationship with Linde, by decaptivating their ASUs into our existing supply network further increasing supply reliability and efficiency.