UPDATE: Piper Jaffray Lowers PT to $104 on Praxair

A report from Piper Jaffray reiterates its Neutral rating and lowers its price target from $107 to $104 on Praxair (NYSE: PX).

The report states, “We are reiterating our Neutral rating on Praxair as we continue to believe the expected growth is already reflected in the current share price as some of the geographies and end markets have begun to show some weakness in Europe and a slowing demand from their semiconductor customers. Partially offsetting that is the ongoing strength in numerous emerging markets and the energy industry."

PX closed Friday at $105.27.