UPDATE: JP Morgan Raises PT to $105 on Praxair

A report from J.P. Morgan reiterates its Neutral rating and raises its price target from $103 to $105 on Praxair (NYSE: PX). The report states, “The rate of EPS growth for Praxair in 2012 is likely to be slower than the 14.5% pace that should be achieved in 2011. Praxair's 2011 earnings are likely to have been assisted by a currency translation tailwind of about $0.15 per share, which added about 3% to the earnings growth rate for 2011."

PX closed yesterday at $104.32.