Bank Of America Comments On Praxair Investor Meeting

According to Bank Of America, Praxair PX held an investor event. Bank Of America said that it attended Praxair's investor event in Chicago, where CEO Steve Angel, CFO Jim Sawyer and senior management highlighted double-digit growth prospects for hydrogen (7% of total sales in 2010) and hosted a tour of the company's refinery hydrogen plant in Whiting, Indiana. “On balance, we exited convinced that Praxair is well positioned to deliver on its financial goals (see below), and we continue to consider the name an attractive core holding. Our PO of $116 suggests shares can appreciate to 19x our 2012 EPS estimate of $6.10 for total return potential of 13%, including a dividend yield of 1.7%.” Praxair closed yesterday at $103.83.