UPDATE: Jefferies & Company Reiterates Buy Rating, Lowers PT for Praxair

In a company note published earlier today, Jefferies & Company, Inc. reiterated its Buy rating for Praxair, Inc. PX, but lowered its price target from $134.00 to $122.00. Jefferies & Company went on to say “We are lowering 2012E by $0.05 to $5.80 to reflect adverse F/X and risks to volumes in 2H12. We are also lowering 2013E by $0.10 to $6.60 to reflect a slower volume recovery next year. With bidding activity still high, we believe the industrial gas industry fundamentals are intact.” Praxair, Inc. closed on Friday at $105.58.