Argus Upgrades Air Products & Chemicals Inc. (APD) to Hold
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Argus upgraded Air Products & Chemicals Inc. (NYSE: APD) from to Hold with a price target of $159.00.
The upgrade reflects the recent spinoff of the Electronic Materials division, the forthcoming sale of the Performance Materials division, and other restructuring actions over the last year.
Looking ahead, they expect asset sales to provide the company with resources for small to medium-sized acquisitions, as well as for stock buybacks and dividend increases.
Shares of Air Products & Chemicals Inc. closed at $137.96 yesterday.
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