BMO Capital Reiterates Market Perform Rating on Air Products & Chemicals Inc. (APD)

BMO Capital analyst John McNulty reiterated a Market Perform rating and $346.00 price target on Air Products & Chemicals Inc. (NYSE: APD).

The analyst commented: "Mr Menezes Hits the Ground Running, but the Race Appears to be 'High Hurdles'; With two weeks under his belt Eduardo Menezes, APD's new CEO, has hit the ground running announcing APD will exit three projects, resulting in up to a $3.1bn write-down. APD also gave an update on NEOM and the LA projects that we view as positive. While we see Management's quick action is an encouraging sign that Mr Menezes is well suited for his new role, the write-down is larger than most feared and demonstrates the potential risks remaining. As such we wait for the "all clear" and Maintain MP."

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 $309.39 yesterday.

You May Also Be Interested In

• Phillips 66, Marathon Merger Talks Collapsed - Semafor
• Jefferies on Five Below (FIVE): 'Our latest channel checks reinforce our view that FIVE's momentum extends well beyond viral Squish trends'
• DA Davidson Reiterates Neutral Rating on Timken (TKR)