Bernstein raises price target on Chemical companies

Bernstein raises PT on chemical companies Linde LIN.DE and Air Products APD.N

Brokerage raises PT to $537 from $519 for LIN, representing premium of 11.3%

Also raises PT for APD to $329 from $315, representing premium of 18.5%

Brokerage anticipates that, with SpaceX reportedly working toward a mid-2026 IPO, its likely bullish launch forecasts will imply strong, long-term growth for industrial gas companies, potentially for decades

"We think the rapid growth of rocket launches is an underappreciated driver for the industrial gas companies, especially Linde and Air Products," brokerage says

In 2025, LIN and APD were down 10.2% and ~15%, respectively