Air Liquide up after mid-term margin target beat expectations, €4 bln buyback

** Shares in Air Liquide AIRP.PA are up some 2% after the French chemicals and gases group announced its 2030 margin target above expectations and a 4-billion-euro buyback programme

** It aims to raise its operating margin by 400 to 600 basis points by 2030, above Visible Alpha consensus of around 360 bps cumulatively over the period, Jefferies says

** 2030 net EPS CAGR target of +10% is in line with consensus, the broker adds

** "Importantly, management has historically proven conservative at the outset of strategic periods, with guidance subsequently upgraded through the cycle," Jefferies notes

** Air Liquide also launched a €4 billion ($4.48 billion) share buyback plan, its first large-scale shareholder-return programme, set to be completed by end-2028

** Shares are on track for their biggest daily rise since February, if gains hold

($1 = 0.8938 euros)