CORRECTED - UPDATE 3-Air Liquide maintains targets in global crisis

(Corrects first paragraph to show company is world's biggest, not second biggest)

* Sales rise 10.4 percent in Q3 * Keeps all its financial targets * Financial crisis reduces fourth-quarter visibility

(Adds analyst, shares)

By Caroline Jacobs

PARIS, Oct 23 (Reuters) - The world's biggest industrial gases group, Air Liquide (AIRP.PA), warned on Thursday the financial crisis made it hard to predict fourth-quarter business but maintained its financial goals.

Air Liquide is among the first to report quarterly performance in a sector which many see as a safe-haven investment due its traditionally steady growth, but which may have taken a hit from the global financial turmoil.

"The uncertainties in the worldwide economy due to the financial crisis reduce visibility for the year's end, even though our markets remain well oriented," Chairman and Chief Executive Benoit Potier said in a statement.

The company said third-quarter sales, boosted by hydrogen demand, rose 10.4 percent to 3.247 billion euros ($4.17 billion) and were up 7.6 percent excluding the impact of natural gas prices, exchange rate fluctuations and takeovers.

The average outcome of a Reuters poll of nine analysts was for 3.234 billion euros.

Potier reiterated Air Liquide would achieve double-digit growth in 2008 net profit at constant exchange rates, "excluding a significant slowdown of end-user markets". In addition, he confirmed plans to invest more than 2 billion euros in 2008.

The world's biggest industrial gases company ahead of Germany's Linde (LING.DE) said it was preparing for tough times by reinforcing efficiency measures, monitoring its working capital and curtailing share buy-backs.

Analysts welcomed Air Liquide sales and pointed out that the fact it kept its forecasts amid the crisis was a good sign.

"The industry as a whole is pretty well positioned to weather the storm because they operate on mid to long-term contracts and the need for gases will continue to be there," Unicredit analyst Christian Weiz said, rating Air Liquide shares "buy" with a 96 share price target.

Demand for gases from the energy sector were expected to continue to increase but he said there was a risk of slowing demand in the industrial merchant business -- its largest -- that cover sectors like cars and other metal manufacturing.

Air Liquide sells and services gases worldwide to a range of sectors, including refineries, the food industry, healthcare, electronics and the space industry.

Gas and Services sales rose 11 percent to 2.76 billion euros, benefiting from demand for hydrogen, a gas used to cut the sulphur content of fuels to meet environmental regulations.

U.S. rival Air Products (APD.N) said on Wednesday lower fiscal fourth-quarter profit was hurt by weakening demand for gases from the chip industry, liquid crystal display manufacturing and a weaker manufacturing environment in Europe.

Air Liquide shares rose 4.2 percent at 62.51 euros by 0726 GMT, taking losses to 32.4 percent this year. The stock is trading at 13.7 times its expected earnings per share for 2008, while Linde is trading at 11.4 times. (Editing by Tim Hepher, Paul Bolding and Mike Nesbit)