UPDATE: Jefferies Reiterates On Air Products & Chemicals On Lowered Estimates

In a report published Monday, Jefferies analyst Laurence Alexander reiterated a Hold rating on

, and raised the price target from $134.00 to $160.00. In the report, Jefferies noted, “We are lowering estimates for Linde to reflect a likely incremental headwind from energy-related markets in 2015-2016. We have also raised our estimates for Air Products, where restructuring efforts should more than offset sluggish end-market trends, and we are raising our 12-month price target $26 to $160, a 1.25x PEG ratio.” Air Products & Chemicals closed on Friday at $143.83.