Oscar Gruss Upgrades Airgas (ARG) to Buy; Risk/Reward Repositioned After Delaware Appeal Ruling
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Price: $102.26 -0.24%
Rating Summary:
11 Buy, 6 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 15 | New: 13
Rating Summary:
11 Buy, 6 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 15 | New: 13
Trade ARG Now!
Oscar Gruss upgraded Airgas (NYSE: ARG) from Hold to Buy. PT $72.
Oscar analyst says, "...Looking at the “intrinsic evidence” to determine the intent of ARG’s charter language, the justices determined that it was understood to mean a “three year term”. The ruling limits the perceived leverage that ARG investors attributed to Air Products and Chemicals, Inc. (NYSE: APD) negotiating position; we believe too much emphasis was placed on electing “friendly” directors rather than ARG’s previously rich stock price relative to the wide bid/ask spread. Given yesterday’s sell-off, we believe the risk/reward profile is more attractive ($10 upside / $5 downside) and ARG investors will be aggressive in pressuring the Company to make a deal in light of stock price decline."
For more ratings news on Airgas click here and for the rating history of Airgas click here.
Shares of Airgas closed at $62.00 yesterday, with a 52 week range of $41.82-$71.28.
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Oscar analyst says, "...Looking at the “intrinsic evidence” to determine the intent of ARG’s charter language, the justices determined that it was understood to mean a “three year term”. The ruling limits the perceived leverage that ARG investors attributed to Air Products and Chemicals, Inc. (NYSE: APD) negotiating position; we believe too much emphasis was placed on electing “friendly” directors rather than ARG’s previously rich stock price relative to the wide bid/ask spread. Given yesterday’s sell-off, we believe the risk/reward profile is more attractive ($10 upside / $5 downside) and ARG investors will be aggressive in pressuring the Company to make a deal in light of stock price decline."
For more ratings news on Airgas click here and for the rating history of Airgas click here.
Shares of Airgas closed at $62.00 yesterday, with a 52 week range of $41.82-$71.28.
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Oscar Gruss, Air Products/Airgas
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