Goldman Sachs Upgrades Air Products & Chemicals Inc. (APD) to Buy

November 13, 2012 6:50 AM EST Send to a Friend
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Price: $119.17 +1.38%

Rating Summary:
    9 Buy, 11 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 24 | Down: 13 | New: 52
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Goldman Sachs upgraded Air Products & Chemicals Inc. (NYSE: APD) from Neutral to Buy with a price target of $96.00 (from $86.00).

"We are upgrading APD to Buy after the shares (-7% YTD) have lagged industrial gas peers ARG (+12%) and PX (+1%) as well as the overall sector (+16%) and the S&P500 (+10%)," the analyst comments. "We believe the 2012 underperformance was due to deterioration in APD’s electronics business, market share loss at US merchant, and greater exposure to European end markets."

For an analyst ratings summary and ratings history on Air Products & Chemicals Inc. click here. For more ratings news on Air Products & Chemicals Inc. click here.

Shares of Air Products & Chemicals Inc. closed at $79.95 yesterday.




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