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Air Products upgraded to Buy from Hold at Berenberg

Berenberg upgraded Air Products (APD) to Buy from Hold with a price target of $350, up from $275. The firm cites the company’s improved capital allocation and pricing momentum implied by its AI-driven nowcasting model for the upgrade. Higher helium prices due to the Iran conflict may be temporary in nature, but generally higher inflation should ensure healthy merchant gas pricing excluding helium, the analyst tells investors in a research note.

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