UPDATE: BMO Capital Upgrades Air Products & Chemicals Inc. (APD) to Outperform
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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)."
Shares of Air Products & Chemicals Inc. closed at $270.88 yesterday.
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