Air Products initiated with an Outperform at RBC Capital

RBC Capital initiated coverage of Air Products (APD) with an Outperform rating and $355 price target The 10% pullback in the shares since March presents an attractive entry point, the analyst tells investors in a research note. The firm is bullish on the company’s return to a core industrial gas model, which emphasizes projects with committed offtakes. RBC also likes Air Products’ turnaround plan and return to high-single-digit earnings growth.