Evercore analyst Stephen Richardson upgrades $Air Products & Chemicals (APD.US)$ to a buy rating, and adjusts the target price from $305 to $365.
According to TipRanks data, the analyst has a success rate of 60.6% and a total average return of 9.0% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Air Products & Chemicals (APD.US)$'s main analysts recently are as follows:
The entry of an activist shareholder into Air Products is seen as a chance for the company to redefine its growth narrative towards 'quality growth' and to align shareholder returns more closely with company initiatives rather than external factors such as policy changes and commodity price fluctuations. Comparing valuations to a peer on a sum-of-the-parts basis, along with the potential to enhance earnings, is believed to support a significant upside potential for the company's shares.
The revision in sentiment towards Air Products has been influenced by the need for significant changes in capital allocation and risk management to restore confidence in the company's valuation. With the presence of an engaged activist, there is now a safeguard that aligns with the anticipation of a stronger-than-expected financial performance in FY25. Improved clarity has emerged since mid-2024, despite investor skepticism about the upcoming fiscal guidance. Analysis indicates a potential earnings path that may alleviate worries regarding any discrepancies in expected earnings.
Note:
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