Air Products & Chemicals Inc. (APD) PT Raised to $345 at Citi, Opens 90-Day Upside Catalyst Watch

Citi analyst Pat Cunningham raised the price target on Air Products & Chemicals Inc. (NYSE: APD) to $345.00 (from $330.00) while maintaining a Buy rating.

The analyst comments "We see potential upside from the Mantle Ridge stake in APD. We believe clarity around CEO succession plan, change in capital allocation priorities and/or increased disclosures on APD’s project pipeline will see shares respond favorably. We expect a potential successful activist push will see key changes pushed in advance of APD’s 2025 annual shareholder meeting, which is expected to be in January 2025 (2024 annual meeting Jan. 25, 2024)."

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