Citi ups Air Products target, opens ‘upside 90-day catalyst watch’

Citi raised the firm’s price target on Air Products (APD) to $315 from $285 and keeps a Neutral rating on the shares. Citi also opened an “upside 90-day catalyst watch” on Air Products. It sees potential earnings upside in Q1 with supply disruption creating positive pricing and end customer volume opportunities. The firm adjusted targets in the specialty chemicals group as part of a Q1 preview. It prefers industrial gas exposure, saying the group is “relatively insulated” from the inflationary environment.