Barclays maintains an 'Overweight' on Air Products & Chemicals (APD); Mean Reversion to Follow Improved Operating Results
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Price: $305.10 +1.59%
Rating Summary:
22 Buy, 13 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
22 Buy, 13 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Barclays maintains an 'Overweight' on Air Products & Chemicals Inc. (NYSE: APD) price target of $97.00.
Barclays analyst says, "APD performance has lagged and investors have taken a pound of flesh. We think that provides an opportunity. APD has underperformed expectations and when your closest comp has performed as well as Praxair (NYSE: PX) has it makes life tough. However, the valuation gap versus PX has grown wider than we believe is sustainable. APD should improve its performance over the next couple quarters and the valuation gap to PX should narrow."
"We continue to recommend an OW for Air Products: 1. Sound business model and impressive industry discipline. 2. Late cycle business with high return on capital. 3. Attractive investment opportunities over the next several years. Two reasons have us favor APD today over its competitors: 1. Air Products' valuation is at one of the widest spreads to PX of the last 10 years; 2. Some of Air Products' fundamental underperformance versus Praxair can be made up in the next several years."
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 $81.08 yesterday.
Barclays analyst says, "APD performance has lagged and investors have taken a pound of flesh. We think that provides an opportunity. APD has underperformed expectations and when your closest comp has performed as well as Praxair (NYSE: PX) has it makes life tough. However, the valuation gap versus PX has grown wider than we believe is sustainable. APD should improve its performance over the next couple quarters and the valuation gap to PX should narrow."
"We continue to recommend an OW for Air Products: 1. Sound business model and impressive industry discipline. 2. Late cycle business with high return on capital. 3. Attractive investment opportunities over the next several years. Two reasons have us favor APD today over its competitors: 1. Air Products' valuation is at one of the widest spreads to PX of the last 10 years; 2. Some of Air Products' fundamental underperformance versus Praxair can be made up in the next several years."
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 $81.08 yesterday.
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