Air Liquide, FR0000120073

Air Liquide stock trades 11.60 percent below its yearly high

Published on 09/28/2026 at 11:38 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Air Liquide stock carries a 110 basis point H1 2026 margin gain into October 5. Deutsche Bank lifted its target to EUR 192 from EUR 190 on September 23.

Luftbild einer Industriegasanlage mit kryogenen Tanks bei Abenddämmerung — Air Liquide S.A. betreibt Industriegase-Anlagen mit riesigen kryogenen Tanks weltweit, ISIN FR0000120073, Illustration mit AI erstellt.

Air Liquide stock (ISIN FR0000120073) was last at EUR 167.80 on Euronext Paris on September 28, 2026 at 11:22 a.m. CEST, 11.60 percent below its 52-week high of EUR 189.81. The next strategic checkpoint is the company investor day scheduled for October 5, when management is set to present a new four-year plan.

Margin progress reaches 110 basis points

According to Yahoo Finance in the H1 2026 earnings transcript dated July 28, 2026, Air Liquide delivered 2.6 percent comparable sales growth in the first half and expanded recurring operating margin by 110 basis points. Recurring net profit reached EUR 1.9 billion, up 4.4 percent on a reported basis.

The operating figures give the October event a clear test: management must convert margin execution into a medium-term framework while maintaining growth in electronics and industrial gases. The company also reported an investment backlog of EUR 6.0 billion, up from EUR 5.5 billion in the first quarter of 2026, according to the same H1 transcript.

Deutsche Bank lifts its target

Deutsche Bank confirmed its buy recommendation and raised its Air Liquide price target from EUR 190 to EUR 192 on September 23, 2026, ahead of the investor day, as reported by Zonebourse. The revised target stands 14.42 percent above the September 28 reference price.

The market is therefore weighing two concrete signals: a 0.18 percent intraday gain and a valuation that remains below the yearly high, while analyst attention is turning to capital allocation and the next margin targets.

October 29 marks the next report

Air Liquide's next listed reporting event is third-quarter revenue on October 29, 2026, according to the Euronext Paris quote page published by Boursorama. For investors, the October 5 strategy presentation comes first, with the October 29 revenue release providing the next operating checkpoint.

Stock remains below its yearly high

Air Liquide was trading at EUR 167.80 on Euronext Paris on September 28, 2026 at 11:22 a.m. CEST. The session range was EUR 167.26 to EUR 168.42, market capitalization was EUR 106.7 billion, and volume stood at 64,670 shares.