Air Liquide SA

AI: XPAR (FRA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	€624.00	Cwcp	Pndkxprs

Air Liquide Delivers Solid Second-Quarter Results; Increasing Fair Value Estimate

Krzysztof Smalec

Jul 28, 2022

Narrow-moat-rated Air Liquide posted a 5% year-over-year increase in first-half EPS, from EUR 2.38 to EUR 2.50. We’ve modestly increased our fair value estimate for Air Liquide, to EUR 140 from EUR 138, mostly due to time value of money. We view the stock as appropriately valued at current levels, with shares trading in 3-star territory.

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