Cowen Starts Air Products & Chemicals Inc. (APD) at Outperform
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Cowen analyst Marc Bianchi initiates coverage on Air Products & Chemicals Inc. (NYSE: APD) with a Outperform rating and a price target of $340.00.
The analyst comments "We initiate APD as our top pick ($340 PT) owing to the company's commitment to growth in what we see as a very attractive market for Energy Transition and upside to our price target. Our proprietary cost analysis reveals the competitiveness of the mega-scale NEOM project, which differentiates APD and could create a first mover advantage in a hydrogen market that could grow 10-20x by 2050."
Shares of Air Products & Chemicals Inc. closed at $270.67 yesterday.
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