Morgan Stanley analyst Vincent Andrews resumed coverage of Air Products (APD) with an Equal Weight rating and $290 price target The firm sees Air Products “heading in the right direction under new leadership,” but believes that outperformance hinges largely on multiple expansion at this point, adding that it thinks the ROIC improvement required to drive such expansion is likely to take time and is not without risk.
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Read More on APD:
- Cautious Hold on Air Products Amid Strategic Shift and Execution Risks
- Strategic Growth and Long-term Potential Justify Buy Rating for Air Products and Chemicals
- Air Products price target lowered to $307 from $346 at BMO Capital
- Air Products price target lowered to $324 from $335 at UBS
- Air Products price target lowered to $325 from $355 at Barclays
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