Linde (LIN) Isn't Seeing US Reshoring, Says Jim Cramer

We recently published 12 Stocks on Jim Cramer’s Radar.  Linde plc (NASDAQ:LIN) is one of the stocks aon Jim Cramer's radar.

Linde plc (NASDAQ:LIN) is one of the largest industrial gas companies in the world. The firm has struggled recently, primarily due to weakness in the European economy. These struggles were evident in Linde plc (NASDAQ:LIN)’s fiscal third quarter, which saw the firm’s sales volumes dip by 3% in its Europe, Middle East, and Africa business. The industrial gas company also guided its fourth quarter earnings per share to sit between $4.10 and $4.20, which was lower than the $4.23 in LSEG analyst estimates.

Linde plc (NASDAQ:LIN) had reported its earnings on October 31st, and on November 19th, UBS maintained a Buy rating and set a $500 share price target. The shares closed at $422 on December 17th, and the investment bank shared that the firm could accelerate its EPS growth from 6% in 2025 to 9% to 10% in 2026. UBS’ price target was exceeded by CICC’s coverage. Initiating coverage on December 3rd, it set a $510 share price target and an Outperform rating on the shares.

Cramer previously discussed Linde plc (NASDAQ:LIN) on Mad Money on December 2nd and shared that while his Charitable Trust had owned the stock, it had been nothing but “nastiness.” In this appearance, he commented on Linde plc (NASDAQ:LIN) in the context of industrial reshoring in the US. Industrial gas companies benefit from reshoring and are among the first to pick up the signs. Recalling his discussion with the firm, Cramer said:

“Where’s the reshoring? You know I had Linde on yesterday, industrial gas, many different. Industrial gas is used in every part of the economy. And he said, where’s the reshoring? We haven’t got the reshoring.”

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Disclosure: None. This article is originally published at Insider Monkey.