On July 27, Linde PLC rose 3.46% overnight, trading at $512.61/share, with turnover of $43,200.

The move was driven by upcoming quarterly earnings on July 31 combined with multiple analyst price target upgrades. Market consensus expects Q2 revenue of $8.989 billion, up 7.62% year-over-year, with adjusted EPS of $4.48, representing 11.20% growth. In July alone, UBS raised its target to $622 from $600, RBC lifted to $576 from $570, and Evercore ISI adjusted to $525 from $515. UBS research further noted that the growing space launch market could boost Linde's annual volume growth by 30 to 70 basis points, with commercial space propellant sales potentially reaching $1.3 billion by 2030.

In Q1, Linde beat estimates with adjusted EPS of $4.33 versus the $4.26 consensus, on revenue of $8.781 billion. Full-year guidance was set at adjusted EPS of $17.60 to $17.90.

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