UPDATE: BMO Capital Upgrades Air Products & Chemicals Inc. (APD) to Outperform

August 15, 2022 4:15 AM EDT
Get Alerts APD Hot Sheet
Price: $231.75 -2.87%

Rating Summary:
    19 Buy, 15 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 9 | Down: 9 | New: 24
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(Updated - August 15, 2022 4:15 AM EDT)

BMO Capital analyst John McNulty upgraded Air Products & Chemicals Inc. (NYSE: APD) from Market Perform to Outperform with a price target of $321.00 (from $283.00).

The analyst comments "We believe the risk/reward profile for APD has improved significantly in the past few months and as such are upgrading our rating to Outperform. On the recent challenges, APD has demonstrated improved execution with regard to energy inflation/cost management. Equally important, we see greater certainty and upside to come from their aggressive push toward "green fuels/energy" as the IRA affords improved blue/ green H2 and SAF economics. Finally, with macro uncertainty we prefer to focus on names that can deliver growth regardless of the macro (like Industrial Gases including APD)."

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 $270.88 yesterday.

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