Linde Jumps 7% After Citi Lifts Price Target to $600

3 articles · Updated · CNBC · Jun 24

Linde shares rose about 7% after Citi raised its price target to $600 from $585 and launched a 90-day positive short-term view on the industrial gas supplier.
Citi tied the call to expected volume growth in North America—driven by manufacturing, metals, refining and electronics—and to a possible inflection in Asia industrial activity.
The bank also highlighted Linde’s backlog, which is increasingly exposed to faster-growing markets such as electronics and the space industry.
Higher helium prices after the Strait of Hormuz closure could add upside still absent from guidance, while Linde is seen using excess supply to secure long-term contracts rather than chase spot gains.
The rally extends a strong 2026 for Linde, with the stock up more than 21% year to date versus the S&P 500’s 7.5% gain.