Air Liquide analyst views stay supportive, shares trade steadily in Paris

Air Liquide draws continued Buy ratings from Goldman Sachs and Deutsche Bank with trimmed targets, while the shares hold near 165 euros on Euronext Paris.

By Anna Wagner, Analysts & Consensus desk. Reviewed prior to publication on 2026-06-23, 08:45.

Air Liquide (FR0000120628) sits in the large-cap industrials segment with its shares listed on Euronext Paris under the ticker AI. Recent data show the stock trading around 165 euros on the French exchange, according to quote services tracking AI.PA.

What recent analyst notes say

Analyst coverage on Air Liquide remains constructive, with several banks reiterating positive views in June 2026. Goldman Sachs kept its rating at Buy while cutting the price target to 179 euros in an update reported on June 9. Deutsche Bank also reaffirmed a Buy stance, trimming its target to 190 euros in a June 18 note, according to Marketscreener’s overview of broker actions.

These target revisions follow solid first-quarter 2026 sales figures disclosed in late April, which underpin a generally supportive consensus. MarketScreener’s analyst summary shows that most covering brokers rate the Air Liquide stock Buy or equivalent, with average targets still above the current share price, signalling room for upside in their models.

How the consensus and valuation look

Consensus data compiled by MarketScreener point to a cluster of price targets for Air Liquide in the high 170s to low 190s euros. At a spot price near 165.70 euros for AI.PA, as observed on Euronext Paris, the shares trade at a discount to that range. This gap reflects a cautious stance from analysts, who have recently reduced targets while keeping positive ratings.

Valuation metrics such as the price-to-earnings ratio and enterprise value to EBITDA remain in line with European industrial gas peers like Linde and Air Products, according to comparative data cited in analyst commentary. The stock’s defensive profile and exposure to healthcare and electronics gases feature prominently in research notes by Goldman Sachs and Deutsche Bank.

The business behind the stock

Air Liquide generates most of its revenue by supplying industrial and medical gases, along with related services, to customers worldwide. Key segments include Large Industries, which delivers oxygen, nitrogen and hydrogen via pipelines to refining and chemical complexes, and Healthcare, serving hospitals and homecare patients with medical gases and equipment. Electronics and Industrial Merchant rounds out the portfolio with specialty gases for chipmakers and packaged gases for manufacturing clients.

Where the shares trade today

The Air Liquide shares (FR0000120628) trade on Euronext Paris under the ticker AI at about 165.70 euros as of 2026-06-18, 16:30, based on recent quote information.

Air Liquide at a glance

• Company: L'Air Liquide S.A.
• ISIN: FR0000120628
• WKN: 850133
• Ticker: AI
• Trading venue: Euronext Paris
• Price (as of 2026-06-18, 16:30): 165.70 EUR
• Market cap: around 87 billion EUR (as of mid-June 2026, based on Euronext data and market reports).
• Sector / industry: Industrials - Industrial Gases / Chemicals
• Index membership: CAC 40
• Next earnings date: not officially scheduled

This article is for informational purposes only and does not constitute investment advice or a recommendation to buy or sell any securities.