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.
TipRanks Black Friday Sale
- Claim 60% off TipRanks Premium for the data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on APD:
- Air Products’ Earnings Call Highlights Growth Amid Challenges
- Air Products price target lowered to $325 from $350 at RBC Capital
- Air Products price target lowered to $300 from $325 at Mizuho
- Air Products price target lowered to $260 from $275 at JPMorgan
- Air Products price target lowered to $295 from $310 at BMO Capital