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Morgan Stanley initiated coverage of Praxair with an Equal-weight rating and an $86 price target.

Analysts Paul Mann, Charles Dan, and Sophia Xia said, "We are initiating coverage of Praxair with an EW rating and an $86 price target. We have a favorable view of the industrial gas segment: we expect revenues to grow faster than the economy during the next 2-3 years and believe there is upside to consensus forecasts for both major US industrial gas companies, Praxair and Air Products. In our view, Praxair is the highest-quality industrial gas name in the global sector, with the highest historical returns on operating assets and equity; however, at current valuations Air Products appears more attractive over the next 12-18 months."

The bank expects the company to report 2010 EPS of $4.56, versus consensus estimates of $4.62.

Read the full story at: mysmartrend.com

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