Evercore ISI lowered the firm’s price target on Air Products (APD) to $325 from $375 and keeps an Outperform rating on the shares. Q3 marked a shift from earnings-driven moves among chemicals companies, with two-thirds of about 20 chemical names rallying 6% on average post-results, despite half guiding below expectations for Q4 and negative revisions averaging 12%, the analyst tells investors in an earnings recap note for the group.
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