Air Products & Chemicals Inc. (APD) PT Raised at Bernstein; 'Turnaround in Motion'

Bernstein SocGen Group analyst James Hooper raised the price target on Air Products & Chemicals Inc. (NYSE: APD) to $315.00 (from $300.00) while maintaining an Outperform rating.

The analyst commented: "Turnaround in Motion; The ship is turning. 1QFY26 was more evidence that Air Products are delivering on their back to basics strategy (see report Quick Take: Air Products 1QFY26 - Pulling the Margin Lever). We expect continuing progress on the productivity initiatives, and growth to be aided by semiconductors and start-ups in 2HFY26, so see a path to estimate upgrades and remain Outperform. The main issue for Air Products remains the megaproject story. We reiterate our position that the Darrow project can represent a win-win for investors. If it gets cancelled, the stock will go up. If it goes ahead as advertised, it will likely create value. There is a chance Darrow goes ahead and misfires, but we choose to have faith in management’s increasing credibility - this time it might actually be different."

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