Argus lowered the firm’s price target on Air Products (APD) to $265 from $317 but keeps a Buy rating on the shares. The company is a well-managed and financially strong competitor in its industry, and while the near-term environment has been challenging with industrial demand weakness and high input costs, conditions are expected to improve through the next year, the analyst tells investors in a research note. Argus adds it is seeing signs of resilience with sales and EBITDA improvements even in a challenging macro environment.
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