Air Liquide, FR0000120073

Deutsche Bank raises target for Air Liquide stock to EUR 192

Published on 10/02/2026 at 13:08 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Recurring net profit reached EUR 1.9 billion in the first half of 2026. Air Liquide stock costs EUR 170.66 on October 2, 2026 versus EUR 166.73.

Isometrische Prozessdarstellung einer Luftzerlegungsanlage zu Sauerstoff und Stickstoff — Air Liquide S.A. isometrisches 3D-Diagramm der Air Separation Unit Luftzerlegung O2 N2, ISIN FR0000120073, Illustration mit AI erstellt.

Air Liquide stock (ISIN FR0000120073) was trading at EUR 170.66 at Lang & Schwarz on October 2, 2026 at 1:04 p.m. CEST, up 2.36 percent versus the prior close of EUR 166.73. According to BFM Bourse on September 23, 2026, Deutsche Bank raised its Air Liquide price target from EUR 190.00 to EUR 192.00 and maintained its Buy rating.

October 5 brings a strategic test

The analyst move came before Air Liquide's digital Capital Markets Day on October 5, 2026. Yahoo Finance reported from the company's July 28, 2026 earnings call that management planned to present a new strategic plan and financial framework at the event.

That timing gives investors a concrete benchmark: the company is expected to discuss growth, margins and capital allocation after Deutsche Bank highlighted those same areas in its September 23, 2026 assessment. The key question is whether the new framework supports the EUR 192.00 target without requiring a sharper shift in capital returns.

First-half figures support the case

Air Liquide's recurring net profit reached EUR 1.9 billion in the first half of 2026, up 4.40 percent year over year, according to Yahoo Finance. Comparable sales growth accelerated from 1.90 percent in the first quarter of 2026 to 3.50 percent in the second quarter, while total second-quarter sales growth reached 5.20 percent excluding foreign exchange and energy effects.

The project pipeline adds another measurable support point. Air Liquide said its backlog of signed projects under execution reached EUR 6.0 billion in the first half of 2026, up from EUR 5.5 billion in the first quarter, while recurring return on capital employed stood at 11.00 percent. Those figures connect the near-term margin debate with longer-cycle demand from electronics and industrial projects.

Stock trades below its yearly high

At EUR 170.66, the Lang & Schwarz price stood EUR 19.15 below the 52-week high of EUR 189.81 and EUR 29.88 above the 52-week low of EUR 140.78 on October 2, 2026. Finance-market data put Air Liquide's market capitalization at EUR 108.5 billion on the same date, giving the analyst target a valuation context without mixing currencies or venues.

The Euronext listing identifies Air Liquide under ISIN FR0000120073 as a CAC 40 stock on Euronext Paris, with the last traded price used for exchange-market classification. The company therefore enters the October 5 event with a positive same-day move, fresh first-half operating figures and a clearly dated analyst target revision. The further course of trading is shown by the continuously updated real-time quote of Air Liquide stock.